Gemini Rockets to $40 in Nasdaq Debut Frenzy—Wall Street’s Crypto Craze Is Real

Gemini didn’t just debut—it exploded. Hitting $40 within hours of its Nasdaq listing, the crypto exchange’s stock performance screams one thing: traditional finance is all-in on digital assets.

Wall Street’s Hunger

No slow burn here. The instant surge past $40 signals more than investor interest—it’s a stampede. Banks, funds, and retail traders piled in, turning Gemini’s IPO into a verdict on crypto’s staying power. Forget 'alternative asset'—this is mainstream momentum.

Numbers Don’t Lie

$40 isn’t just a price; it’s a statement. In a sector once dismissed as speculative, Gemini’s opening act proves institutional money isn’t just dipping toes—it’s diving headfirst. The timing? Impeccable. The appetite? Insatiable. Even the skeptics are scrambling for a seat at the table.

Cynical Take? Sure—Wall Street finally found a bubble it didn’t miss out on. For now.

Strong debut

Gemini raised approximately $425 million by selling 15.2 million shares. The final offer price exceeded both its original range of $17 to $19 per share and a later revision that set expectations between $24 and $26.

Following a few weeks of rumors, the exchange filed its registration statement with the Securities and Exchange Commission on Sept. 2 and reached the public market just 10 days later, reflecting investor demand for digital asset exposure.

While not among the largest exchanges by trading activity, Gemini has built a reputation in the U.S. for emphasizing compliance and security. Trading on its platform accelerated in the days before the IPO.

Wave of crypto listings

The debut adds to a string of successful crypto-linked listings in 2025. Stablecoin operator Circle launched on the New York Stock Exchange earlier this year, with shares climbing from a $31 debut price to above $60, valuing the firm at more than $33 billion.

Blockchain financial firm Figure Technology Solutions also completed its IPO this week, notching a 24% first-day jump followed by additional gains.

Taken together, the listings highlight a resurgence of Wall Street interest in digital-asset equities, with investors seeking exposure to crypto companies after years of market volatility.