Gemini Eyes IPO in 2025 as Crypto Firms Rush to Go Public
Gemini’s alleged IPO move this year is another big step towards institutionalization in the crypto space.
According to Bloomberg, which cited sources, Gemini has been talking to financial advisors to explore the possibility of going public.
Backed by Cameron and Tyler Winklevoss, an IPO aligns with the broader trend of crypto companies going public as the market conditions improve. Cameron Winklevoss recently said an IPO is still being discussed and the decision will be based on market timing and regulatory developments.
The structure and timing of the IPO is still unknown but Gemini has been expanding its global presence. In November 2024, the exchange got a Virtual Asset Service Provider (VASP) license in France and recently hired executives to accelerate growth in the EU.
Crypto IPO Boom: A Growing Industry Trend
Gemini is not alone in its pursuit of a public listing. Several other crypto companies are exploring IPOs as the industry matures and institutional money flows into the space. This is driven by the crypto market growth with Bitcoin (BTC) hitting an all-time high of $108,000 in January 2025 and Bitcoin Exchange-Traded Funds (ETFs) seeing inflows of over $50 billion.
Other high-profile crypto companies have already announced plans to go public in 2025:
Circle (USDC stablecoin issuer)
Kraken (major crypto exchange)
Chainalysis (blockchain analytics firm)
Bullish Global (crypto exchange and trading platform)
Additionally, BlackRock, Fidelity, and Grayscale have bolstered their positions in the crypto space through ETF offerings, further strengthening the industry’s legitimacy.
Going public allows firms like Gemini to raise capital, enhance credibility, and expand services. With the sector witnessing institutional adoption at an unprecedented scale, IPOs could accelerate crypto firms’ integration into traditional financial markets.
Regulatory Shifts Paving the Way for Crypto IPOs
BlackRock, Fidelity, and Grayscale have also invested in the crypto space through ETFs, further legitimizing the industry.
Going public allows companies like Gemini to raise capital, increase credibility and expand services. With institutional adoption at an all-time high, IPOs could accelerate crypto companies’ entry into traditional markets.One of the main drivers of the IPO wave in the crypto space is the evolving regulatory environment. The U.S. Securities and Exchange Commission (SEC) under Mark Uyeda has taken a more balanced approach to digital assets. The recent formation of a Crypto Task Force led by Commissioner Hester Peirce aims to create regulatory clarity for crypto companies.
The Trump administration’s pro-crypto policies have also helped create an environment where crypto companies feel more comfortable going public. Regulatory uncertainty has previously held back IPOs but now the legal clarity is giving hope.
As crypto companies prepare for a new era of public listings, investors are watching Gemini’s IPO which could set the precedent for how blockchain companies navigate Wall Street.
Key Takeaways:
Gemini is exploring an IPO in 2025, following discussions with financial advisors.
Crypto firms like Kraken, Circle, and Chainalysis are also considering public listings.
Bitcoin ETFs have attracted over $50 billion, signaling strong institutional demand.
Regulatory clarity under the SEC’s new leadership is driving confidence in crypto IPOs.
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