Gemini exchange may become publicly traded

In an interview with Bloomberg, the CEO and co-founder of Gemini, Tyler Winklevoss, and the co-founder and president of Gemini, Cameron Winklevoss, said that they are interested in taking Gemini public on a US stock exchange. 

According to Cameron Winklevoss, 

We are definitely considering it and making sure that we have that option. We are watching the market and we are also having internal discussions on whether it makes sense for us at this point in time. We are certainly open to it.

Going public is a trend

This isn’t the first time we have seen a digital currency service provider announce or express interest in going public. Both Coinbase and Bakkt have already confirmed that they are looking to become publicly traded.

Coinbase has filed its S-1 form with the SEC–the form that allows the company to register its securities with the SEC–and Bakkt has announced that it will be merging with the special purpose acquisition company VPC Impact Acquisition Holdings ($VIH).

Since December 2020, the digital currency markets have been hot. There has been an influx of institutional money into the digital currency markets, and retail investors–even the ones that got burned in 2017–are beginning to creep back into the space. 

Digital currency service providers are acting while the iron is hot, doing the best that they can to get their businesses, new features, and even public offerings off of the ground before the hype-train stops and the market bubble pops.

A digital currency ETF?

We have also seen companies file to launch a digital currency ETF. The Winklevoss twins also told Bloomberg that a digital currency ETF is a product that they are interested in launching themselves. 

“We still believe in this product, we are still committed to this product. I don’t think that we have more to add at this moment,” said Cameron Winklevoss.

Several digital currency ETFs have been filed, but each has been rejected by the SEC come decision time.

Source: Read Full Article