What happened?
Cryptocurrency exchange, Gemini, founded by Cameron and Tyler Winklevoss, is set to debut in New York in an effort expected to raise up to $317 million. While Nasdaq was initially believed to be investing in the initial public offering (IPO), it has been clarified that this is not the case. However, Nasdaq will be partnering with Gemini to offer services to its clients.
Who does this affect?
This primarily affects investors, particularly in the digital asset sector as Gemini’s listing is one of the most anticipated public offerings this year. Both institutional and retail investors are expected to show strong interest. Additionally, this impacts Nasdaq clients who can now benefit from Gemini’s custody and staking services on a non-exclusive basis.
Why does this matter?
Gemini’s IPO is a significant event because it serves as a barometer of how public markets value cryptocurrency exchanges in 2025. Given the current momentum and appetite for crypto-related equities in U.S. markets, this IPO tests whether investor enthusiasm will translate into sustained support for publicly traded crypto companies.