Winklevoss Twins Count on Retail Traders for Gemini IPO Success

Retail traders are getting a rare chance to make big bets on the billionaire-backed Gemini Space Station Inc. before the cryptocurrency exchange makes its trading debut Friday.

The firm, backed by Cameron and Tyler Winklevoss, plans to allocate as much as 30% of the shares in its initial public offering to small-time investors through online brokerage platforms operated by the likes of Robinhood Markets Inc., Futu Holdings Ltd.’s Moomoo and Webull Corp., according to an updated filing Tuesday.

Coincidentally, Robinhood was a pioneer in its own IPO back in 2021, opting for a retail allocation of ...