Galaxy Digital Set to Debut on Nasdaq Amid Crypto Stock Recovery

Galaxy Digital, a prominent crypto investment firm currently listed on the Toronto Stock Exchange (TSX), is preparing to make its debut on the Nasdaq stock exchange on May 16. This strategic move aligns with a broader resurgence of crypto-linked equities, many of which posted notable gains in April following an extended period of market volatility.

Leadership, Listing, and Shareholder Approval

Founded by renowned crypto enthusiast Mike Novogratz, Galaxy Digital has scheduled a special shareholder meeting on May 9 to secure final approval for its Nasdaq listing. In addition to shareholder consent, the firm must also receive final clearance from Nasdaq before trading can commence.

The company will trade under the ticker “GLXY” on Nasdaq. Until the transition is complete, Galaxy Digital will continue to be publicly traded on the TSX, where it has been listed since July 2020.

Stock Performance in a Shifting Market

Despite a sluggish start to 2025, Galaxy Digital is pushing forward. Its stock is currently down 12.28% year-to-date on the TSX, reflecting broader macroeconomic pressures that have weighed heavily on tech and crypto markets. The Nasdaq 100 has also dipped by 7.33% so far in 2025.

However, April marked a turnaround for many crypto-related stocks. Coinbase (COIN) jumped 17.80%, MicroStrategy (MSTR), led by Bitcoin bull Michael Saylor, surged 31.86%, and Bitcoin miner CleanSpark (CLSK) rose 21.58%. These gains suggest renewed investor confidence in the crypto space.

Strengthening Market Presence Through U.S. Expansion

Mike Novogratz described the Nasdaq listing as a pivotal moment for the company’s growth strategy. In an official statement released on April 30, he said, “Listing on Nasdaq represents a major milestone for Galaxy Digital. It will allow us to better execute our mission and offer investors seamless exposure to both the digital asset and AI ecosystems.”

To facilitate its U.S. listing, Galaxy Digital has created a new public entity incorporated in Delaware. The U.S. Securities and Exchange Commission (SEC) officially declared the firm’s registration statement effective on April 17, clearing the way for the transition.

Expanding Capital and Crypto Venture Investments

Galaxy Digital is actively bolstering its presence in the blockchain investment space. Its Galaxy Ventures Fund I LP is reportedly on track to raise between $175 million and $180 million by the end of June 2025. The fund aims to build a diversified portfolio of 30+ early-stage crypto and blockchain startups.

Novogratz emphasized that the Nasdaq listing would not only strengthen the company’s reputation but also attract a broader and more diverse investor base. “We’re confident this move will unlock significant value for shareholders and position Galaxy for long-term success,” he added.

Positioned for Growth Amid Crypto Market Rebound

At the time of the latest update, Galaxy Digital Holdings was trading at $15.62, with a modest increase over the past 24 hours. The firm’s U.S. listing comes at a time when the crypto sector appears to be entering a new growth phase, offering Galaxy a chance to enhance its visibility and capital access in one of the world’s most influential financial markets.

With crypto investment activity rebounding and investor sentiment improving, Galaxy Digital’s Nasdaq debut could be a major catalyst, potentially positioning the firm as a central player in the evolving digital asset economy.