Just In: Mike Novogratz’ Galaxy Digital Officially Listed on Nasdaq

American digital currency investment firm Galaxy Digital, founded by Mike Novogratz, has now achieved a dual listing on the Nasdaq Global Select Market. The company announced in a post on X that the bell has finally rung, a move indicative of its inclusion on the stock market. Additionally, the first trade has cleared, with the firm trading under the ticker symbol GLXY.

Mike Novogratz Leads Galaxy Digital To Make History

The company’s plans to go public in the United States have long been discussed in the community. Despite most of its business interests being concentrated in the country, regulatory bottlenecks may have pushed it to the Toronto Stock Exchange (TSX) list in Canada.

With changes in administration, Galaxy revisited the Nasdaq listing in April, a push that at the time depended on shareholders’ vote. Ringing the bell confirmed that every hurdle had passed, with Mike Novogratz acknowledging every one of the company’s stakeholders and community members.

A lot of reactions have followed the listing, with commentary from top industry leaders like Bitwise CEO Hunter Horsley. Jeremy Almost, the CEO of Paystand, emphasized the importance of the listing to the crypto community. According to him, the more high-quality Bitcoin and crypto-linked firms go up on Nasdaq, the faster the industry attains maturity.

Galaxy Digital has championed a general push for growth over the past year. Meanwhile, it has had its fair share of bad deals and regulatory backlash recently. Earlier this year, BitGo CEO Mike Belshe called for regulatory clarity after the Galaxy and NYAG settlement.

However, the company remains one of the major backbones fueling innovation in the industry. 

As reported earlier by CoinGape, the Mike Novogratz firm actively engages in the buying and selling of digital currencies to help maintain overall liquidity.

Crypto Firms and Public Listing Milestones

Since Coinbase Global Inc. went public via indirect listing on Nasdaq in 2021, more firms have made this move. One of the recent crypto-linked firms to go public is eToro. As reported earlier by CoinGape, eToro targeted $4 billion valuation as it entered the public market through IPO earlier this week.

In addition to Galaxy Digital and these firms, stablecoin issuer Circle Internet Financial is also making preliminary moves to go public in the United States. The firm explored different avenues, including a Special Purpose Acquisition Company (SPAC), in its bid to go public. 

Most of its efforts have been futile. However, optimism is growing over its current listing plans. Existing firms in the public market are also gaining traction, with Coinbase to S&P 500 slated for next week.