Galaxy Digital to List on Nasdaq in May Following U.S. SEC Approval
Galaxy Digital has received U.S. SEC approval to move its legal base from the Cayman Islands to Delaware as part of a broader reorganization, which includes a Nasdaq listing.
In an April 7, 2025, press release, crypto and AI-focused services provider Galaxy Digital Holdings (GDH) announced that its reorganization plan had been approved by the U.S. Securities and Exchange Commission (SEC).
Galaxy has scheduled a Special Meeting of Shareholders on May 9, 2025, to vote on the next steps in the reorganization. Currently listed on the Toronto Stock Exchange, the company is asking shareholders to approve the corporate restructuring and transaction amendments.
Shortly after the meeting, Galaxy plans to launch on Nasdaq under the ticker GLXY.
Commenting on the news, Galaxy founder and CEO Mike Novogratz said it’s an important milestone in the company's mission to drive innovation and growth across digital assets and AI infrastructure.
GDH Delaware will merge into Galaxy Digital Inc. (Pubco), a company created solely for this merger, with Pubco continuing as the main entity.
As part of the reorganization, Michael Novogratz, who currently controls Galaxy’s general partnership interests, will transfer control of these interests to Pubco. However, he will continue to own 60% of the voting power.
Galaxy filed for U.S. registration in January 2022 to move its business operations.
Founded in 2018, Galaxy is a financial services company with a focus on the cryptocurrency sector. Through its asset management division, Galaxy Asset Management, the company offers a range of crypto investment funds designed specifically for institutional and accredited investors.
In addition to investment funds, Galaxy provides a variety of institutional-grade solutions, such as custody services, trading infrastructure, and liquidity provision, all tailored to meet the needs of large-scale investors.
Beyond asset management, Galaxy has made a name for itself in venture investing. The company has built a robust portfolio with over 100 investments in emerging crypto startups and protocols. Notable investments include leading companies like:
- Dapper Labs,
- Polygon (MATIC),
- Aave,
- among others.
In a strategic move to diversify its focus, Galaxy announced in November 2024 that it would shift its attention toward artificial intelligence. As part of this initiative, the company is repurposing its existing Bitcoin mining infrastructure to support data center operations.
With its planned Nasdaq listing, Galaxy will join other crypto companies such as MicroStrategy (MSTR), Coinbase Global (COIN), and Marathon Digital Holdings Inc. (MARA) on the stock exchange.
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