Solana News Today: Galaxy Digital Redefines Equity with Blockchain-Backed Shares

Galaxy Digital Inc. (NASDAQ: GLXY) has introduced a groundbreaking initiative by becoming the first public company to tokenize its SEC-registered equity directly on a major blockchain. Partnering with Superstate, the company launched tokenized GLXY shares on Solana, enabling stockholders to hold and transfer their shares onchain while retaining full legal ownership rights. The move, announced on September 3, 2025, was immediately reflected in the company’s stock price, which surged 3.81% to $25.08 at market open, showcasing investor enthusiasm for the innovative approach to bridging traditional finance with decentralized infrastructure [2].

The initiative marks a significant milestone in the evolution of public equity infrastructure. Unlike synthetic or wrapper models typically used in tokenized stock offerings, Galaxy’s approach involves direct collaboration with Superstate, an SEC-registered transfer agent, ensuring that legal ownership updates occur in real time as tokens transfer onchain [2]. This method establishes a new precedent for the tokenization of assets and could influence future regulatory frameworks for blockchain-based equity.

CEO Mike Novogratz has highlighted the broader implications of the initiative, stating that the goal is to integrate the benefits of blockchain—such as transparency, programmability, and composability—into traditional financial systems. The tokenized shares maintain full compliance and legal equivalence to traditional equity while offering blockchain advantages, including 24/7 market potential and near-instant settlement [2]. This is facilitated through Superstate’s Opening Bell platform, which allows approved KYC’d investors to hold and transfer Galaxy shares directly in their crypto wallets.

Galaxy has taken additional steps to ensure investor protection by providing the official Solana contract address (2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK) for the tokenized shares. The company has also warned investors that any tokens from other addresses claiming to represent GLXY stock are fraudulent. This measure not only safeguards investors but also establishes clear authentication protocols for this emerging asset class [2].

Financially, Galaxy Digital has demonstrated a complex profile. While the company reported trailing twelve-month revenue of $3.22 billion, it also posted a net loss of $101.55 million, resulting in negative diluted earnings per share of $0.86. Despite a negative 12.83% profit margin, the firm showed strong asset utilization with a 36.62% return on assets. Galaxy’s balance sheet reflects $1.44 billion in total cash, though it carries a high debt-to-equity ratio of 149.33% [2]. Analysts remain divided on the firm’s prospects, with price targets ranging from $25.00 to $40.00 and an average of $35.33 compared to the current price.

The launch of tokenized GLXY shares has positioned Galaxy as a pioneer in blockchain-based capital markets infrastructure, potentially unlocking new revenue streams and operational efficiencies. The company is also exploring regulatory-compliant trading via Automated Market Makers (AMMs) as part of the SEC’s Project Crypto initiative, which could further enhance liquidity and utility for both investors and issuers [2].

Source: [1] Galaxy: An Institutional Digital Assets & Data Center Leader (https://www.galaxy.com/) [2] Galaxy Digital Stock Gains as Firm Launches Tokenized ... (https://tokenist.com/galaxy-digital-stock-gains-as-firm-launches-tokenized-glxy-shares-on-solana/)