Galaxy Digital, a crypto financial services firm led by billionaire Michael Novogratz, is set to list on the Nasdaq following approval from the US Securities and Exchange Commission (SEC), the company announced on Monday. Currently listed in Canada, Galaxy plans to debut on the Nasdaq under the ticker symbol GLXY soon after a shareholder vote on May 9, pending final approval from the Toronto Stock Exchange.
This move represents a significant step for Galaxy as it aims to deepen its presence in the US financial markets. The SEC’s approval allows the company to relocate its corporate registration from the Cayman Islands to Delaware, aligning with US regulatory standards. Galaxy Digital, known for its services in trading, asset management, and venture investments in digital assets, has long sought a US listing but faced previous delays due to regulatory challenges.
While the US IPO market grapples with volatility and new tariffs under President Donald Trump’s administration, Galaxy appears to be moving forward with its plans. The listing will help the firm gain broader access to institutional investors in the US, complementing its existing presence on the Toronto Stock Exchange.
The company’s Nasdaq debut comes amid a renewed interest in public listings by several crypto firms, including Circle, Kraken, Gemini, Ripple, and Bullish, despite market uncertainties impacting IPO valuations.
