11.09.2025 08:24
In a notable move that significantly broadens access to a burgeoning digital asset market, Gemini, the cryptocurrency exchange established by the Winklevoss twins, Cameron and Tyler, has opted to allocate a substantial 30% of its initial public offering (IPO) shares to everyday investors. This unprecedented allocation, as reported by Bloomberg, comes just ahead of the company's highly anticipated public debut scheduled for this Friday.
The crypto firm, through an updated filing on Tuesday, revealed that these shares will be accessible to retail traders via popular investment platforms, including Robinhood, Webull, and Moomoo. This decision positions Gemini as a distinctive player among cryptocurrency companies, offering a remarkably large portion of its debut offering to non-institutional participants, a segment often underserved in such offerings. The exchange initially intended to reserve only 10% for this demographic but, following an intensive week of promotional activities, resolved to triple that figure. Concurrently, Gemini has secured a $50 million private placement from Nasdaq Inc., a strategic maneuver aimed at injecting further impetus into its IPO.
However, prospective retail investors must be aware of an important stipulation: participation in this offering via the aforementioned platforms necessitates adherence to anti-flipping regulations. These rules are designed to prevent the immediate resale of shares, effectively barring participants from offloading their stock within the initial month. Consequently, even a dramatic surge in stock value on its first day of trading will not permit rapid profit-taking for these early retail participants.
This retail-centric strategy employed by Gemini is not without precedent, though its outcomes have been varied. For instance, Robinhood, in its own 2021 IPO, channeled 35% of its shares to its user base through its IPO Access program. While this approach initially yielded impressive results, with the stock price soaring past $70, it experienced a significant downturn, falling below $7 within a year. It wasn't until 2025 that Robinhood's stock saw a recovery, surpassing $100, a rebound that primarily benefited those who maintained their holdings over the long term. Similarly, Bullish, another cryptocurrency platform, adopted a comparable strategy in August, dedicating 20% of its IPO shares to individual investors and high-net-worth clients. Its debut saw an opening price of $68, an 84% increase, before settling at $52.62.
