Galaxy Digital Plans Nasdaq Listing May 16 2025
1min read Galaxy Digital Holdings Ltd. has declared its plan to commence trading on the Nasdaq Global Select Market on May 16, 2025. This decision is subject to the approval of shareholders, who are set to vote on the matter on May 9. Upon approval, the firm's Class A common stock will be traded under the ticker symbol GLXY. This transition represents a significant shift for galaxy digital, which is currently listed on the Toronto Stock Exchange (TSX). The move to Nasdaq is expected to enhance the firm's visibility among U.S. investors and provide increased liquidity for shareholders.
The decision to list on Nasdaq aligns with Galaxy Digital's strategic pivot towards U.S. institutions. Mike Novogratz, the firm's CEO, expressed confidence that this move will enable Galaxy Digital to better serve investors across the digital asset and AI ecosystems. The listing is anticipated to unlock the next phase of the firm's growth, positioning it to expand into the artificial intelligence sector, which has multiple functions even in crypto. Additionally, all existing GLXY shares trading on TSX will continue to trade there uninterrupted under the new CUSIP 36317J209. All BRPHF shares traded over the counter will be converted into GLXY shares on Nasdaq under the same CUSIP 36317J209.
Galaxy Digital's entry into the AI investment space is a notable development, as it marks the firm's foray into a sector that is rapidly gaining traction in the global financial industry. The firm aims to become more accessible to institutional investors in the U.S. and to serve retail investors more effectively. This strategic move is part of Galaxy Digital's broader vision to become a leading force in digital assets and blockchain, while also expanding its reach into new and emerging sectors.
Despite recent portfolio adjustments, including the shedding of 1,652 BTC valued at approximately $89 million in September 2024, Novogratz remains bullish on Bitcoin. He has predicted that Bitcoin could surpass gold's market capitalization in the next five to eight years, highlighting his confidence in the asset's long-term potential. This bullish stance on Bitcoin, coupled with the firm's strategic pivot towards AI and increased accessibility to U.S. investors, positions Galaxy Digital for continued growth and success in the evolving financial landscape.
