Catenaa, Friday, August 21, 2025- US-based crypto companies are accelerating initial public offering filings to take advantage of favorable market conditions ahead of the September 1 Labor Day holiday.
Bloomberg reports that digital asset firms including Gemini Space Station Inc., led by Cameron and Tyler Winklevoss, and blockchain lender Figure Technology Solutions Inc. are fast-tracking IPO preparations with regulatory authorities.
Market optimism follows successful listings like Circle Internet Group Inc., whose shares more than doubled after debut.
Wall Street banks anticipate a surge of offerings before year-end, potentially generating over $15 billion, and pushing total 2024 IPO proceeds toward $40 billion excluding SPACs.
Goldman Sachs co-head Will Connolly noted that technology sector participants are inquiring about expediting filings, while JPMorgan’s Keith Canton suggested dozens of enterprises could complete public offerings by year-end.
JPMorgan currently manages filings for 10 companies, with 15 to 20 more testing market conditions.
Recent high-profile crypto IPOs, such as Bullish’s $1.15 billion debut on the NYSE backed by Peter Thiel, highlight investor appetite for blockchain-based assets. Circle and CoreWeave top Bloomberg’s 2025 IPO performance list, delivering returns of 336% and 132%, respectively.
New filings are emerging as the market heats up. Figure Technology Solutions, co-founded by former SoFi CEO Mike Cagney, submitted an IPO filing after raising $200 million in 2021.
Gemini disclosed a $75 million credit facility from Ripple supporting its Nasdaq listing under ticker “GEMI,” positioning it as the third US-listed crypto exchange following Coinbase and Bullish.
