Gemini announced a higher IPO price range of $24–$26 per share, lifting its target valuation to $3.1 billion and aiming to gather around $433 million. The update signals renewed institutional interest in the crypto sector and reshapes how markets view regulated crypto companies. The move affects both retail and institutional investors participating in the placement and influences broader sentiment toward crypto infrastructure firms.
Price range update and valuation
Experts report that the IPO is now set above the initial $17–$19 per share range cited in earlier filings, with the new target raise at about $433 million and an implied valuation of $3.1 billion at the proposed price. The increased range is interpreted as a sign of demand and confidence from institutional investors, reinforcing the narrative that regulated crypto platforms are regaining momentum.
Nasdaq investment and institutional partnerships
Nasdaq is committing a $50 million strategic investment to support the deal, according to Yahoo Finance. This investment establishes a partnership that brings Gemini’s custody and staking services into Nasdaq’s offering, a move that could accelerate adoption among traditional clients. The added backing provides institutional validation at a critical moment in the offering process.
Risks, history, and positioning
Gemini’s trajectory carries legacy risks from its relationship with Genesis and the 2022 collapse that affected the Earn program, including litigation and asset freezes documented by AInvest. In response, Gemini emphasizes compliance and institutional custody as competitive advantages, with AInvest citing more than $18 billion in assets under custody. For context, an IPO is the sale of company shares to the public, and valuation reflects the firm’s implied value by multiplying price per share by outstanding shares.
If the placement prices within the new range, it could reinforce that regulated crypto firms can attract traditional capital, even as the company faces stock market volatility and regulatory scrutiny. Nasdaq’s backing reduces perceived risk but does not eliminate legal contingencies linked to past agreements. Gemini’s IPO is a test of institutional appetite for crypto assets and regulated custody services, with the planned listing date on September 11, 2025 marking a key milestone to watch.
