Toronto-listed cryptocurrency investment firm Galaxy Digital is poised to transition to the US-based Nasdaq, with the move slated for May 16, pending approval from stakeholders at an upcoming shareholders meeting.
The planned Nasdaq listing for Mike Novogratz’s firm comes on the heels of a strong April for several Nasdaq-listed crypto companies, a bright spot after months of macroeconomic volatility.
In an April 30 statement, CEO Mike Novogratz hailed the potential listing as a significant milestone, stating it “would position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems.” The company anticipates that the Nasdaq listing will broaden its investor base.
A special shareholders’ meeting is scheduled for May 9 to seek the final go-ahead for the move, which also requires Nasdaq’s approval. Galaxy intends to trade under the ticker symbol GLXY on the Nasdaq. Should the listing proceed, the company will enter a transition period while continuing its trading activities on the Toronto Stock Exchange (TSX), where it was initially listed in July 2020.
This potential upswing contrasts with Galaxy’s performance on the TSX, where its stock is down 12.28% year-to-date amid a wider market downturn. Similarly, the Nasdaq 100 has seen a 7.33% decrease in 2025, although it showed resilience in April.
Novogratz, a well-known cryptocurrency advocate and Bitcoin bull, also saw his Galaxy Ventures Fund I LP reportedly on track to raise $175 million to $180 million by the end of June, earmarked for investment in 30 crypto and blockchain startups.
