Mike Novogratz’s Galaxy Digital will go public on the Nasdaq in May

The company has already received approval from the Securities and Exchange Commission

08.04.2025 - 08:20

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What’s new? Mike Novogratz’s Galaxy Digital has moved closer to listing in the United States, as the Securities and Exchange Commission (SEC) has approved its application to reorganize. The company plans to move its headquarters from the Cayman Islands to Delaware in the near future and list its shares on the Nasdaq under the ticker GLXY. Galaxy shares are currently listed on the Toronto Stock Exchange.

Material by The Block

What else is known? The company will hold a shareholder vote on the reorganization on May 9, and will go public on the Nasdaq after that. Novogratz called getting SEC approval an “important milestone” in the company’s quest to expand its footprint.

The reorganization process will likely be completed in mid-May, subject to shareholder and Toronto Stock Exchange approval.

Galaxy provides institutional services in cryptocurrency trading, asset management, and tokenization. It also invests in and manages data centers that power artificial intelligence and high-performance computing startups.

In March, Galaxy paid $200 million to settle claims by the New York Attorney General’s office. The case involved the company’s alleged wrongdoing in promoting the Luna cryptocurrency of the collapsed Terra blockchain startup Do Kwon. Galaxy promoted the asset on social media while secretly selling its savings for a multi-million dollar profit.

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