Amid the growing crypto-friendly environment in the United States, crypto exchange Gemini has privately filed for an initial public offering (IPO) according to a report by Bloomberg. This development comes following a previous expose on fellow exchange Kraken’s ambition to also go public in early 2026.

In a news post on March 7, Bloomberg reported that Gemini has completed confidential fillings to invite investment in the form of an IPO. According to people close to the matter, the crypto exchange founded by billionaire twins Tyler and Cameron Winklevoss has contracted executives from Goldman Sachs and Citigroup to work on the offering with no final decision being made.

If successful, an IPO by Gemini would be another positive development reflecting the integration and growing acceptance of the crypto industry in the US. Notably, US President Donald Trump has adopted a pro-crypto stance different from the hostile regulatory approach seen under the past administration.

Under Trump, the US has now moved to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile. Meanwhile, the Securities and Exchange Commission (SEC) appears to be scaling back its regulatory crackdown on the crypto industry, as evidenced by its recent dismissal of lawsuits against major players including Coinbase, Robinhood, Consensys, and Gemini among others.

The US regulator had previously charged Gemini for offering unregistered securities through its “Earn” program in collaboration with bankrupt crypto lending company Genesis.

As earlier stated, Gemini will likely not be the only crypto exchange exploring a potential venture into the financial markets. Bloomberg has previously reported that Kraken, officially known as Payward Inc. is preparing for a possible IPO launch in Q1 2026. Just like Gemini, Kraken ranks as one major global crypto exchanges and has also recently benefitted from the SEC’s ongoing case dismissal spree.

Following an inquiry by Bloomberg, a statement by the exchange appeared to confirm the report saying:

We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.

Alongside Kraken and Gemini, other crypto firms reportedly considering an IPO under the new Trump pro-crypto administration include Bullish, digital asset trust company BitGo, and stablecoin operator Circle. A successful IPO by Kraken, Gemini, or Bullish would make them the second crypto exchange to go public in the U.S., following Coinbase’s groundbreaking 2021 listing that propelled its valuation to nearly $100 billion.

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