Key Takeaways
- Gemini has confidentially filed for an IPO with the assistance of Goldman Sachs and Citigroup.
- Ark Invest sees new policies driving crypto industry growth and facilitating public listings for digital asset companies.
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Tyler and Cameron Winklevoss’ crypto firm Gemini has confidentially filed paperwork with the SEC for an initial public offering and is working with Goldman Sachs Group and Citigroup on the plan, according to a new report from Bloomberg.
The New York-based crypto exchange may go public as soon as this year, according to people familiar with the matter. However, people noted that the IPO is still in the planning stages, and no final decisions have been made.
Gemini’s efforts to go public come after it received positive news from the SEC. Last month, the securities agency decided to end its investigation into Gemini without pursuing enforcement action.
The investigation, which began nearly two years ago, focused on allegations of unregistered securities offerings through Gemini’s “Earn” program.
The Winklevoss twins are widely recognized for their early investment in Bitcoin and their leadership in building Gemini as a regulated and secure crypto exchange. They are also among the most active advocates for a strategic Bitcoin reserve.
The entrepreneurs were part of a group of about 30 crypto executives and agency leaders who attended the White House’s first-ever crypto summit on Friday.
Crypto IPOs are on the rise as the Trump administration strengthens its support for the industry. Also today, Bloomberg reported that Kraken is planning a public market debut as early as the first quarter of 2026.
Kraken’s plan is moving forward after the company successfully concluded its legal dispute with the SEC without any penalties. The firm previously discussed going public, but its plans were held back by past crypto downturns and regulatory hurdles.
Earlier this year, eToro, another established trading platform, reportedly confidentially submitted a registration statement with the SEC for a US IPIO, with a targeted valuation of $5 billion.
The company aims for a listing as early as the second quarter of 2025. The plan is backed by a number of Wall Street titans, like Goldman Sachs, Jefferies, and UBS.
Ark Invest anticipates that Trump’s policies will foster a more favorable regulatory landscape for the crypto industry, thereby encouraging digital asset companies to seek public listings.
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