Open an account Help & support Register Account summary Log out
Skip Header
Home Stock market news

Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Crypto platform Gemini files for Nasdaq IPO

Tue 02 Sep 2025 13:11

(Sharecast News) - New York-based crypto platform Gemini said on Tuesday that it was seeking a valuation of up to $2.2bn in a US initial public offering. The company, which was founded by Cameron and Tyler Winklevoss in 2014, offers a wide range of crypto products and services for individuals and institutions in over 60 countries.

Gemini said it plans to sell just over 16.6m shares at between $17 and $19 each.

Goldman Sachs, Citigroup, Morgan Stanley and Cantor are acting as lead bookrunners and Gemini said it plans to list on the Nasdaq under the ticker symbol 'GEMI'.

Jacob Zuller, analyst at Third Bridge, said: "Gemini has chosen the perfect time to capitalise on the favourable environment, following the recent success of the Bullish IPO and regulatory shifts from a pro-crypto administration. For Gemini, the IPO is both a bid to raise capital for expansion and an effort to clean up its balance sheet.

"Klarna reported a net loss of $282.5 million in H1 2025, a substantial increase from the $41.4 million loss in the same period in 2024. The struggles stem from declining trading volumes, while competition in credit cards - an area where Gemini had a competitive advantage - is heating up. Third Bridge experts highlight that trading volumes are expected to increase, driven by institutional adoption, which represents the majority of Gemini's client base, but the company could face challenges in attracting net new accounts due to reputational concerns from the Gemini Earn situation.

"Investors will be watching the company's growth story to judge its valuation, whether it focuses on Europe with tokenized stocks and its MiCA license, or a bigger push in marketing in the US."

Share this article

Related Sharecast Articles

Thu 08 Oct 2026 14:53
Next 15 first-half results in line as profits, revenue dip
(Sharecast News) - Shares of Next 15 slid on Thursday after it reported a dip in first-half profit and revenue, albeit in line with expectations.
Thu 08 Oct 2026 14:12
Friday preview: Delta Air Lines results in focus
(Sharecast News) - Friday sees the release of quarterly results from Delta Air Lines in the US, along with the preliminary Michigan consumer sentiment index for October.
Thu 08 Oct 2026 13:58
Asos hackers accessed more customer details than first thought
(Sharecast News) - More customer information than first thought was accessed in the Asos cyber attack that came to light earlier this week, after hackers gained access to an employee account by impersonating a trusted contact.
Thu 08 Oct 2026 12:27
Bunzl buys nursing home products distributor Blueleaf
(Sharecast News) - Distribution and services group Bunzl said on Thursday that it has bought Blueleaf, a UK distributor of care and nursing home products, for an undisclosed sum.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Awards

Award 1
Award 2
Award 3

Policies and important information

Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statements | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Statutory and Regulatory disclosures | Whistleblowing programme

Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.

This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.

© FIL Limited 2026