Galaxy Digital Holdings charts an ambitious course from major asset acquisitions to a transformative SEC-approved reorganization—a journey set to culminate in a Nasdaq listing by mid-May 2025.
A Strategic Infusion
Galaxy Digital made headlines in July 2024 when it secured nearly $1 billion in staked Ethereum through its acquisition of node operator CryptoManufaktur. This deal not only bolstered the firm’s balance sheet but also underscored its commitment to expanding its position in the digital asset ecosystem.
SEC Approval and Reorganization Plans
In a pivotal development on April 8, 2025, the U.S. Securities and Exchange Commission granted Galaxy Digital approval for reorganizing its structure. The approved plan involves relocating the corporate domicile from the Cayman Islands to Delaware and forming a new parent company, New Pubco. CEO Mike Novogratz hailed the SEC’s green light as a critical milestone on the firm’s path to a Nasdaq listing.
“We’re pleased to announce the effectiveness of our registration statement with the SEC. This marks an important milestone for Galaxy, as we take a significant step toward advancing our mission of driving innovation and growth across digital assets and artificial intelligence infrastructure. We look forward to completing the transaction this quarter,” stated Novogratz.
Big milestone for @GalaxyHQ! Our registration statement is now effective with the SEC. We’re on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go! https://t.co/bbIgQNnMxH
— Mike Novogratz (@novogratz) April 7, 2025
The Nasdaq Transition
With the SEC’s approval in hand, Galaxy Digital is set to convene a special shareholder meeting on May 9, 2025, to vote on the reorganization. Pending further regulatory nods—including from the Toronto Stock Exchange—the company expects to complete the transition by mid-May 2025. Once finalized, Galaxy Digital will list its Class A common stock on Nasdaq under the ticker “GLXY.” This strategic move, aimed at replacing its current TSX listing, is a testament to growing optimism in the US crypto market driven by a favorable shift in policy.
Galaxy Digital expects the reorganization to be completed by mid-May 2025, pending the necessary approvals. Once finalized, the company plans to list its Class A common stock on the Nasdaq under the ticker symbol “GLXY.” However, New Pubco will remain listed on the Toronto Stock Exchange for a period following the reorganization.
“It’s been a long road, but GLXY is finally on its way to a US listing. Thanks to all who believe in us, and congrats to those who have worked so hard to get @galaxyhq to this milestone. Let’s go!” Galaxy Digital’s Head of Research Alex Thorn posted.
HODL Team
