Can Gemini IPO Repeat Circle IPO’s Explosive Run for Crypto Investors

The Gemini IPO has taken Wall Street by storm. The exchange, founded by Cameron and Tyler Winklevoss, has seen its offering oversubscribed by more than 20 times, Reuters says as per the reports.

Investors rushed to get a piece of the offering, forcing bankers to stop taking new orders. The huge interest shows that crypto companies are still some of the hottest listings in the U.S. market.

Gemini IPO Price Raised on Strong Demand

Because of this rush,

Winklevoss brothers and the bankers raised the initial public offering price range from $17–$19 per share to $24–$26. At the top of the new range, the firm would be valued at more than $3 billion.

Even though investors wanted more shares, the organisation capped the proceeds at $425 million. Without that cap, the company could have raised as much as $433 million. The Nasdaq itself is also investing $50 million in Gemini through a private placement .

Circle’s Market Boom Raises Hopes for Gemini Stock

The timing is striking, as it comes shortly after Circle’s record-breaking listing.

It runs the USDC stablecoin, went public in June at $31 per share. Within weeks, Circle stock surged past $260, at one point touching nearly $299.

That was more than a 675% jump from the price, sparking debates about whether the market was witnessing another “IPO pop.”

These headlines drew in a wave of new investors who now see this exchange stock as the next big opportunity.

Many are asking if this could follow the same explosive path that previous did.

With both being key players in the crypto economy, one as a stablecoin issuer and the other one as a trading platform the comparison is hard to ignore.

Investor Confidence in Crypto Listings

The broader crypto debut scene has also heated up. Stablecoin issuer Figure Technology raised $787.5 million in its own U.S. IPO, while CoinDesk owner Bullish and Circle both increased their offerings earlier this year.

Regulatory clarity under a pro-crypto White House, as well as strong inflows into digital asset ETFs, has fueled demand.

Market watchers believe the firm could be the next in line to benefit from this momentum.

What Analysts Expect from Gemini Stock

If it opens strong, it may mirror Circle’s run, giving investors another chance to ride a crypto equity boom.

Analysts point out that Gemini IPO demand shows traditional investors want exposure to exchanges, not just tokens.

If Circle’s debut proved that a stablecoin company could become more valuable than its token float, it’s debut may prove that cryptocurrency exchanges can compete with traditional Wall Street trading firms.

Looking Ahead

The Gemini IPO is set to begin trading on Nasdaq under the ticker “GEMI.” Goldman Sachs and Citigroup are leading the offering.

With price of the shares above the marketed range and demand at record levels, many on Wall Street are watching closely.

If this crypto stock follows the explosive trajectory of Circle stock, this could be the start of another crypto IPO rally that reshapes the sector.