Gemini hints at IPO following confidential filing with SEC

Gemini filed a confidential statement with the Securities & Exchange Commission (SEC) on Friday for an initial public offering (IPO) of its Class A common stock.

Gemini set for IPO following SEC filing

Crypto exchange Gemini announced its intention to go public after filing a confidential form S-1 statement with the SEC. The company proposed holding an IPO of its Class A common stock, according to a press release issued on Friday.

Due to the nature of the filing, no information regarding the size of the offering or price target has been disclosed. However, these details will be determined following a regulatory review by the SEC, subject to market conditions.

The development follows a Bloomberg report in March, which claimed that Gemini had been working with Goldman Sachs and Citigroup on its IPO after the SEC concluded its investigation into the exchange in February.

Gemini's filing adds to a broader pursuit of a public listing among crypto companies, following regulatory tailwinds that have favored the industry since President Trump's election.

USDC issuer Circle Internet Group listed on the New York Stock Exchange on Thursday under the ticker CRCL. The stock began trading at $69 on Thursday and has risen above $112 after market hours on Friday.

The stablecoin issuer initially raised $1.1 billion from its IPO on Wednesday after selling 34 million shares of its stock.

Similarly, crypto exchange Coinbase joined the S&P 500 in May after replacing Discover Financial Services. The announcement led to a surge in Coinbase's (COIN) stock.