The company said in a press release that it has not yet determined the number of shares to be offered or the price range for the proposed offering.
“The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions,” Gemini said in the release.
The announcement came a day after Circle Internet Financial, the company behind the USDC stablecoin, debuted on the New York Stock Exchange (NYSE) and saw the price of its stock triple by the day’s close.
By going public, Circle joined Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S.
Gemini discussed Circle’s upsized IPO in its Weekly Market Update, saying: “The debut represented a hopeful shift for an IPO market that’s been largely muted in recent years. And it indicated there’s huge appetite for a growing cryptocurrency company in an industry aided by significant macroeconomic tailwinds thanks to pending stablecoin legislation and the Trump administration’s move to encourage digital asset innovation.”
It was reported March 7 that Gemini had filed confidentially for an IPO and was working with banks on the offering.
The same report said that the founders of Gemini, brothers Cameron and Tyler Winklevoss, were among roughly 30 crypto company executives and agency heads in attendance at the White House Digital Assets Summit held March 7.
That news followed reports from February that Gemini was considering a listing this year but had not yet made a decision.
Gemini offers tools for buying, selling and storing crypto, according to its website.
The company said in a May 13 blog post that it placed a series of billboards on Wall Street to remind the financial district that “the next generation financial system is here to stay.”
“Policymakers are advancing clearer crypto legislation, and blockchain guardrails are becoming a feature of the space,” the post said. “Institutions have embraced digital assets. The narrative has changed.”
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