Galaxy Digital Holdings, a leading digital asset and financial services company, recently announced that the United States Securities and Exchange Commission (SEC) has approved its listing on the Nasdaq stock exchange. The approval is in line with the company’s previously announced reorganization and domestication plan. This is a major step forward for the company, paving the way for increased visibility and growth.
SEC Approves Galaxy’s Listing Plans
CEO and Founder of Galaxy, Mike Novogratz, took to his X handle to react to the announcement.
Big milestone for @GalaxyHQ! Our registration statement is now effective with the SEC. We’re on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go! https://t.co/bbIgQNnMxH
— Mike Novogratz (@novogratz) April 7, 2025
He added that the latest feat is a step toward advancing the company’s mission of driving innovation and growth across digital assets and artificial intelligence infrastructure.
The company has been publicly traded on the Toronto Stock Exchange (TSX: GLXY) since 2018 and is now moving to list on Nasdaq following SEC approval of its registration statement. This shift, set to happen shortly after a shareholder vote on May 9, 2025, involves a reorganization and relocation from the Cayman Islands to Delaware, likely to better align with U.S. regulations and tap into American institutional demand for crypto products.
Once Galaxy fulfills the Nasdaq listing requirements and secures approval from shareholders, the company will officially be listed on Nasdaq under the ticker symbol GLXY.
Galaxy Expands Global Presence
In addition to its upcoming Nasdaq listing, Galaxy has also been expanding globally, including venturing into Europe due to regulatory hurdles in the U.S. It recently secured a UK FCA license for derivatives trading, which enables it to provide innovative trading solutions to institutional clients while maintaining the highest regulatory standards. The license also allows Galaxy Investment Banking to offer capital raising and investment banking services from its London office.
The company has had its fair share of challenges in the past. In 2022, it was faced with the hurdle of cutting down nearly 62% of its exposure to FTX, following fears of instability at the embattled crypto exchange. However, it bounced back with a $296 million net income in 2023, capitalizing on improved market conditions.
