Galaxy Digital to Relocate to Delaware Following SEC Approval for Nasdaq Listing

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Galaxy Digital, the cryptocurrency and AI-focused investment firm led by Michael Novogratz, has received approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on the Nasdaq stock exchange.

The company is currently listed on the Toronto Stock Exchange (TSX) and intends to relocate its legal domicile from the Cayman Islands to Delaware, pending shareholder and TSX approval.

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The move is part of a broader effort to strengthen Galaxy Digital’s presence in U.S. markets and to align with the regulatory environment more common among publicly traded U.S. companies.

Strategic Move to Delaware

In a statement released on April 7, Novogratz commented, “Our registration statement is now effective with the SEC. We’re on track to list on the Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go!”

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

Galaxy Digital cited Delaware’s favorable corporate environment, extensive case law, and regularly updated corporate statutes as key reasons for the shift. These factors are expected to enhance Galaxy’s competitiveness against other publicly traded firms.

Galaxy Digital Nasdaq Listing Expected in Mid-May

The firm plans to begin trading on the Nasdaq under the ticker symbol GLXY, shortly after the shareholder vote. The transition is anticipated to be completed by mid-May, assuming all regulatory and procedural steps are finalized.

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Galaxy Digital sees the listing as a milestone that could broaden its appeal to institutional investors and reinforce its position in the digital asset and AI investment landscape.

Market Performance and Regulatory History

Galaxy Digital stock (Source: Yahoo Finance)

Following the announcement, Galaxy Digital’s share price on the TSX fell 8%, closing at CA$12.30 (approximately US$8.70), according to Google Finance. The firm, which debuted on the TSX in July 2015, previously peaked near CA$50 in November 2021.

The company also recently agreed to a $200 million settlement related to its alleged promotion of the now-defunct Terra (LUNA) cryptocurrency. Despite regulatory challenges, Galaxy remains focused on long-term growth in the evolving crypto-financial sector.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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