Gemini Follows Coinbase’s Footsteps with Nasdaq IPO Filing Under Ticker GEMI

Gemini, the prominent U.S.-based cryptocurrency exchange and custodian, has taken a significant step toward becoming a publicly traded company by filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The filing, submitted on August 15, 2025, outlines Gemini's intention to list on the Nasdaq exchange under the ticker symbol GEMI. This strategic move positions Gemini as the third major cryptocurrency company to go public on a U.S. exchange, following in the footsteps of Coinbase, which debuted in 2021, and Bullish, which recently listed. The IPO marks a pivotal moment for Gemini, reflecting its growth and the increasing mainstream acceptance of cryptocurrency-related businesses. As the crypto industry continues to evolve, Gemini's public listing could further validate the sector's potential and attract more institutional investors. The filing underscores the exchange's ambitions to expand its market presence and capitalize on the growing demand for regulated crypto services. With this development, Gemini joins an elite group of crypto firms that have successfully navigated the regulatory landscape to access public markets, setting a precedent for others in the industry.

Gemini Files for IPO, Aims to Trade Under Ticker GEMI on Nasdaq

Gemini, the American cryptocurrency exchange and custodian, has formally submitted an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC). The filing, dated August 15, reveals plans to list on the Nasdaq exchange under the ticker symbol GEMI. This move positions Gemini to become the third crypto company to list on a U.S. exchange, following Coinbase's 2021 debut and Bullish's recent listing.

The S-1 filing outlines a dual-class stock structure, with Class A shares offering one vote per share and Class B shares carrying ten votes each. The Winklevoss twins, as co-founders, will retain significant control through Class B shares, while public investors will be limited to Class A shares. Proceeds from the IPO are earmarked for settling debts, including obligations to Galaxy Digital and other creditors.

Altcoin Season Gains Momentum as Bitcoin Dominance Wanes

Coinbase's latest research signals a shifting crypto landscape, with Bitcoin's market dominance slipping from 65% in May to 59% by August 2025. This decline coincides with a 50% surge in total altcoin market capitalization to $1.4 trillion since early July, suggesting capital rotation toward alternative cryptocurrencies.

While the Altcoin Season Index remains below the 75-point threshold historically associated with full altseasons, improving liquidity conditions create fertile ground for broader participation. Exchange data shows deepening order books, rising spot volumes, and reduced slippage—factors that typically precede sustained altcoin rallies.

The divergence between institutional accumulation and retail-focused metrics hints at evolving market dynamics. Coinbase maintains a constructive Q3 outlook, noting that current conditions mirror early-stage altseason precursors observed in previous cycles.