itBit received their Certificate of Authorisation in May and open for business around July? So Gemini should go live in about 3 months in January, the earliest.
It took 12 days until itBit got their certificate, so Gemini can get their certificate next week. I guess they will start trading pretty soon. Why should they wait?
They shouldn't wait. I would like to see Gemini online trading and their ETF approved by SEC as soon as possible. Things are moving quite slow for them, I don't know how "ready" they are now.