Analysts Lift Gemini After IPO Blackout Ends

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee because the markets are moving in curious ways again. Between Wall Street’s fresh bets on crypto stocks, analysts warming to new listings, and whispers of Bitcoin entering central bank vaults, something bigger may be quietly taking shape beneath TradFi’s surface.

Crypto News of the Day: Gemini Wins Wall Street Confidence as Analysts See 25% Upside

Crypto exchange Gemini is off to a strong start on Wall Street following its highly successful Nasdaq debut.

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A recent US Crypto News article indicated details of the public listing. Barely a month later, 11 major financial institutions are reportedly initiating coverage of its stock under the ticker GEMI.

According to Matthew Sigel, Head of Digital Assets Research at VanEck, the coverage breakdown includes six “buy” ratings and five “hold” recommendations. The VanEck executive also revealed that price targets range from $25 to $42.

The consensus target suggests about 25% upside from current trading levels, a rare show of confidence amid a volatile crypto equity market. However, not all firms are convinced.

“While we acknowledge that Gemini’s growth profile is superior relative to the peer group, the company is expected to remain largely unprofitable throughout the forecast period. As such, we believe a discount [to peers] is warranted as the impact from execution and market risk is elevated,” Sigel reported, citing the bear case according to Keefe, Bruyette & Woods (KBW).

Still, Gemini’s expansion trajectory, spanning 523,000+ monthly active users across 60 countries and $18 billion in assets, is a differentiator in an increasingly competitive playing field.

Gemini’s IPO, which raised $425 million at a $3.3 billion valuation, marked a milestone moment for the crypto industry’s re-entry into public markets. The exchange’s listing came shortly after entering a credit agreement with Ripple to bolster liquidity. This move signaled growing alignment between crypto-native firms and established financial institutions.

The firm’s post-IPO period has drawn heavy institutional attention for its growth metrics and the gesture to revive crypto IPOs after years of regulatory chill.

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It followed the footsteps of Coinbase’s 2021 listing, whose IPO investors finally started making a profit in July for the first time in four years, as reported in a recent US Crypto News publication.

However, for Gemini’s case, the Winklevoss twins-led exchange delivers a more diversified model spanning custody, derivatives, and compliance-focused services.

According to Sigel, while Gemini’s stock outlook remains cautiously optimistic, peers like Coinbase (COIN), Robinhood (HOOD), and BlackRock’s iShares Bitcoin Trust (BLSH) currently have average price targets below their market prices.  

According to the VanEck executive, Gemini may be better positioned for near-term appreciation.

Macro Tailwinds: Bitcoin’s Institutional Future and New Index Launches

Gemini’s debut coincides with a surge in institutional confidence across the crypto sector. In a recent US Crypto News publication, Deutsche Bank economists predicted that Bitcoin could join central bank balance sheets by 2030.

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The move would position Bitcoin alongside gold as a global reserve asset. The bank cited growing legitimacy, deeper liquidity, and declining volatility, suggesting that US-led adoption could help Bitcoin transcend its “speculative” image.

Meanwhile, S&P Global has launched the Digital Markets 50 Index, which tracks 15 cryptocurrencies and 35 crypto-related equities. This highlights how traditional financial benchmarks increasingly recognize crypto as a mainstream asset class.

In today’s US Crypto News publication, therefore, three narratives are at play:

• Gemini is earning a cautious vote of confidence from analysts,
• Bitcoin eyeing central bank recognition, and
• Wall Street re-engaging.

These narratives show that crypto’s next growth phase may belong as much to public markets as it does to the blockchain itself.

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Chart of the Day

Eleven Wall Street firms, including Morgan Stanley, Goldman Sachs, and Citi, initiate coverage post-IPO with a mix of 6 Buy ratings, 5 Holds, and price targets ranging from $25 to $42.

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Here’s a summary of more US crypto news to follow today:

Crypto Equities Pre-Market Overview