TLDR
Galaxy Digital plans to list on Nasdaq on May 16, 2025, pending shareholder and Nasdaq approval
The company will use ticker symbol GLXY and will temporarily remain listed on Toronto Stock Exchange
CEO Mike Novogratz believes the listing will broaden Galaxy’s investor base and US presence
Several Nasdaq-listed crypto firms posted strong gains in April despite broader market turbulence
Galaxy aims to position itself as a gateway for investors to access both digital asset and AI ecosystems
Galaxy Digital, a crypto investment firm currently listed on the Toronto Stock Exchange (TSX), has announced plans to move to the US-based Nasdaq stock exchange. The planned listing, set for May 16, 2025, requires both shareholder approval at a May 9 meeting and final approval from Nasdaq.
The company intends to use the ticker symbol GLXY on Nasdaq. During a transition period, Galaxy Digital will continue trading on the TSX, where it first listed in July 2020.
Galaxy Digital founder and CEO Mike Novogratz called the potential listing a “transformative milestone.” He stated that it would “position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems.”
The company believes this move will enhance value for shareholders. It expects to attract a broader investor base through the Nasdaq listing.
Market Context
The announcement comes during a time of mixed market performance. Galaxy Digital’s stock is down 12.28% on the TSX so far this year, according to Google Finance data.
This performance reflects a broader market downturn. The Nasdaq 100 index is down 7.33% in 2025 to date.
However, April showed some positive signs for crypto-related stocks. Several Nasdaq-listed firms in the sector posted substantial gains after months of macroeconomic uncertainty.
Coinbase (COIN) rose 17.80% in April. Michael Saylor’s Strategy (MSTR) jumped 31.86%. Bitcoin mining firm CleanSpark (CLSK) increased by 21.58%.
Corporate Restructuring
To facilitate the Nasdaq listing, Galaxy Digital has formed a new public company incorporated in Delaware. Existing GLXY shares on the TSX will continue trading uninterrupted under a new CUSIP number.
Shares trading over-the-counter under BRPHF will be converted to GLXY shares on Nasdaq. The U.S. Securities and Exchange Commission (SEC) declared the company’s registration statement effective on April 7, 2025.
Galaxy Digital has mailed management information circulars to shareholders for the May 9 special meeting. The documents contain details about the reorganization and domestication process.
The company has engaged TMX Investor Solutions to assist with proxy solicitation. Shareholders can contact them with voting questions via email or phone.
Galaxy Ventures Fund I LP, part of Galaxy Digital, is reportedly working on raising $175-180 million by the end of June. This fund aims to build a portfolio of 30 crypto and blockchain startups.
The potential Nasdaq listing represents Galaxy Digital’s strategic move to strengthen its position in the US market. It reflects the company’s dual focus on both digital assets and artificial intelligence as key growth areas.
Despite current market challenges, the company is positioning itself for long-term growth. The Nasdaq listing would mark an important step in Galaxy Digital’s evolution as a financial services firm spanning traditional and digital asset markets.
The post Galaxy Digital Announces Nasdaq Listing Plans for May 16, 2025 appeared first on Blockonomi.