The company on Tuesday announced the launch of commission-free stock trading for U.S. customers.
- The launch expands Gemini's strategy beyond cryptocurrencies, putting it in direct competition with Coinbase, Kraken and Cash App in equities trading.
- The cryptocurrency exchange had flagged equities as a future priority in its Q4 2025 letter to shareholders.
- Gemini's stock remains under pressure, down nearly 90% from its post-IPO high and almost 60% so far this year.
Gemini (GEMI) shares dropped in morning trade on Tuesday after the company announced the launch of commission-free stock trading for U.S. customers with broader cryptocurrency market losing momentum after Monday's rally.
The move puts Gemini among the growing list of crypto exchanges pushing into equities, including Coinbase (COIN), Kraken and Jack Dorsey-led Block’s (XYZ) Cash App. Coinbase launched U.S. stock trading through Apex Clearing amid its ‘Everything Exchange’ push in February. Kraken already offers commission-free trading on more than 11,000 stocks and ETFs. Cash App Investing selected Apex as its new clearing and custody provider in May, migrating away from DriveWealth.
"We started with crypto and are expanding to stocks so that customers can manage their entire financial lives right from the Gemini app. This is what building a true financial super app looks like, and we're just getting started."
– Cameron Winklevoss, Co-Founder and President, Gemini Space Station
Gemini customers in the U.S. can now trade exchange-listed securities directly from the Gemini app at 0% commission, according to the company’s announcement. Nasdaq will serve as the official provider for real-time market data, while Apex Clearing Corporation, a wholly owned subsidiary of Apex Fintech Solutions, will act as custodian and clearing broker.
GEMI’s stock fell over 6% on Tuesday morning but retail sentiment on Stocktwits around the cryptocurrency exchange led by the Winklevoss twins remained in ‘bullish’ territory over the past day alongside chatter at ‘normal’ levels.
Bitcoin Pullback, Broader Market Weakness Weigh On Crypto Stocks
The weakness in GEMI’s stock came as Bitcoin (BTC) fell below $63,000 after surging above $64,000 on Monday. Despite the pullback, BTC’s price remained up 1.4% over the past 24 hours, outperforming the other top 10 cryptocurrencies by market capitalization. It also saw retail sentiment trending in the ‘bullish’ zone over the past day, amid ‘normal’ levels of chatter.
The broader stock market also traded lower in morning trade with the SPDR S&P 500 ETF (SPY) down 0.64%, the SPDR Dow Jones Industrial Average ETF (DIA) dropping 0.28%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) slumping over 2%.
Among peers, COIN’s stock fell by over 2% and XYZ’s stock slumped 1.3%. The former saw retail sentiment drop to ‘neutral’ from ‘bullish’ territory over the past day, while sentiment around the latter stayed in the ‘bullish’ zone.
Gemini’s Pivot Towards ‘Gemini 2.0’
Gemini had flagged equities as a future priority in its fourth-quarter (Q4) 2025 letter to shareholders, when the company described 2026 as the start of "Gemini 2.0," a shift from crypto-only exchange to markets company. That letter listed the planned launch of U.S. equities as a next step alongside its existing prediction markets and perpetual futures products.
The launch comes as Gemini continues to build out its broader markets ambitions following its Nasdaq debut in September 2025. The company has come under scrutiny from investors for its pivots since measures like the introduction of prediction markets were not originally outlined in the IPO proposal. Shareholders’ struggles come from the fact that GEMI’s stock has fallen nearly 90% since its IPO, and is down almost 60% this year. Two weeks ago, it hit a record-low of $3.83.
Read also: A Crypto Trade Group Just Joined The Fight To Stop Someone From Claiming Satoshi-Linked Bitcoin
For updates and corrections, email newsroom[at]stocktwits[dot]com<
