Lucía Peña
Galaxy Digital, the investment firm founded by Mike Novogratz, is preparing to go public on the Nasdaq Global Select Market, setting its sights on a May 16 launch date—pending one final step: shareholder approval.
The company announced in a recent press release that it has met all regulatory requirements and will now seek shareholder consent on May 9 for a reorganization that includes redomesticating to Delaware. If approved, the last hurdle will be final authorization from Nasdaq itself.
“This listing would be a game-changing step for Galaxy,” said Novogratz. “It aligns perfectly with our mission to build a trusted gateway into digital assets and AI-driven financial technologies.”
Listing Aims to Expand Access and Legitimacy
Once the listing is live, investors will be able to trade Galaxy Digital’s Class A common shares directly on Nasdaq—giving traditional markets broader exposure to the firm’s digital asset strategies.
This bold move coincides with broader industry shifts, as U.S. regulators—including new SEC Chair Paul Atkins—begin to clarify rules around cryptocurrencies. The changing tone is encouraging crypto firms to return to the U.S. from offshore markets.
Galaxy Joins a Growing Wave of Crypto IPO Ambitions
Eleanor Terrett, a well-known crypto reporter, called the move “symbolic of a growing trend” in which major digital asset companies are bringing operations back to U.S. soil amid improving regulatory clarity.
Other firms exploring or preparing for a Nasdaq listing include eToro, Bithumb, and U.S.-based players like Circle and Gemini, both of which are evaluating IPO opportunities for 2025.
Behind the Scenes: Strategic Token Rebalancing
While setting the stage for its public market debut, Galaxy Digital has been actively rebalancing its crypto portfolio. On-chain data reveals that the firm has been selling large quantities of Ethereum (ETH) and shifting funds toward Solana (SOL), with several massive transactions traced to Binance.
Shortly after one such transfer, Galaxy reportedly deposited 23,900 ETH into Coinbase, sparking speculation of another potential liquidation event.
Regulatory Woes and Wins
Galaxy Digital has also been busy resolving past legal hurdles, most notably reaching a $200 million settlement with the New York Attorney General’s Office over its involvement in the sale of LUNA tokens.
These recent efforts to comply with evolving regulations underscore the company’s commitment to a transparent and fully regulated future as it prepares to step onto the Nasdaq stage.
