Gemini Trust Co., the cryptocurrency exchange and custodian launched by Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering.
The IPO plans follows a series of positive regulatory developments for the firm, according to CNBC. The filing follows the SEC’s decision earlier this year to drop its investigation into Gemini without recommending enforcement action. That cleared a major regulatory hurdle for the company, which also settled a $5 million case with the Commodity Futures Trading Commission in January.
It also coincides with strong Wall Street demand for digital assets as evidenced by Circle’s hot IPO. The stablecoin issuer saw its shares surge in its first two trading days this week. Meanwhile, Galaxy Digital, led by crypto investor Mike Novogratz, recently moved its listing from Toronto to the Nasdaq.
Details around Gemini’s IPO pricing are not yet known. The company stated that a listing will proceed after the U.S. Securities and Exchange Commission completes its review, depending on market conditions. By filing confidentially, Gemini can test investor interest without disclosing sensitive financials upfront.
