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- Nasdaq listing signals Galaxy Digital’s deeper push into the U.S. crypto market, aiming for increased institutional investor visibility.
- The move aims to boost visibility with U.S. institutional investors and comes as Nasdaq crypto stocks show strong April gains.
- Founder Mike Novogratz calls it a “pivotal step” toward building a gateway for digital assets and AI investment.
Nasdaq is preparing to list Galaxy Digital, the prominent crypto investment firm currently trading on the Toronto Stock Exchange (TSX), as early as May 16 pending shareholder and regulatory approval. The transition represents a major strategic shift for Galaxy, signaling its intent to deepen its presence in the U.S. market and enhance its visibility among institutional investors.
Founded by billionaire and Bitcoin bull Mike Novogratz, Galaxy Digital has called a special shareholders’ meeting for May 9 to finalize approval of the move. If given the green light, the firm will begin trading under the ticker GLXY on the Nasdaq while continuing to operate on the TSX during a transitional period.
Describing the upcoming listing as a landmark moment, Novogratz said on April 30, “This is a pivotal step that positions us to further our vision of building a comprehensive gateway for investors to safely and efficiently access the digital asset and AI ecosystems.”
Nasdaq Crypto Stocks Surge in April
The planned migration comes amid renewed optimism in the U.S. crypto equities market. Despite broader macroeconomic headwinds, several Nasdaq-listed crypto firms have posted strong gains in April, suggesting shifting investor sentiment.
Coinbase (COIN) rose 17.8%, MicroStrategy (MSTR) climbed 31.86%, and Bitcoin mining company CleanSpark (CLSK) surged 21.58%, according to Google Finance data. Analysts point to easing inflation fears and recalibrated expectations around interest rates as contributing factors behind the rally.
In contrast, Galaxy Digital has declined 12.28% on the TSX year-to-date, reflecting Canada’s more cautious investor base and broader market softness. The Nasdaq 100 is also down 7.33% so far in 2025, according to TradingView data, but managed to post a modest gain of over 1% in April prompting some to question prevailing bearish narratives.
“People are still talking about the Great Depression, and the Nasdaq 100 just finished April up more than 1%,” noted crypto entrepreneur Anthony Pompliano on X. “Insane.”
Galaxy Digital Eyes Nasdaq Listing and US Expansion
Galaxy’s strategic U.S. move is not just about public markets. The firm is also doubling down on early-stage innovation. A Bloomberg report from April 17 indicates that Galaxy Ventures Fund I LP is on track to raise between $175 million and $180 million by June, with plans to invest in 30 blockchain and crypto startups.
If successful, the Nasdaq listing will mark a new chapter for Galaxy Digital, positioning it at the intersection of Wall Street capital and the rapidly evolving digital asset economy. The decision, widely seen as a bid to align more closely with U.S. institutional investors, could also signal a broader trend among crypto-native firms seeking higher liquidity and visibility through U.S. equity markets.
With final decisions expected in the coming weeks, all eyes are on May 16, a date that could reshape Galaxy Digital’s trajectory and offer fresh momentum for the sector at large.
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