Mike Novogratz’s Galaxy Digital Targets Nasdaq Listing In May: Details
Highlights
- Galaxy Digital is inching toward a Nasdaq listing in mid-May.
- The listing will require the final approval of the company's shareholders.
- Galaxy Digital is offloading its ETH holdings to scoop SOL tokens.
Galaxy Digital has its sights on a Nasdaq listing in the middle of May, but the financial services firm has to obtain the final green light from shareholders. The Mike Novogratz-led company has a concentrated heatmap in recent weeks, offloading a chunk of its Ethereum holdings for Solana.
Galaxy Digital Aims For A Nasdaq Listing
Financial services company Galaxy Digital has disclosed that its shares will begin trading on the Nasdaq Global Select Market. According to a press release, the company notes that it is targeting a May 16 listing on Nasdaq after ticking all the regulatory boxes.
For starters, Galaxy Digital’s shareholders will vote to give their approval on a company reorganization and domestication to Delaware. Following the shareholders’ vote on May 9, the final hurdle will be final approval by Nasdaq.
“We believe that listing on the Nasdaq would mark a transformative milestone for Galaxy that would position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems,” said Galaxy Digital CEO Mike Novogratz.
Galaxy Digital says the Nasdaq listing will power the next stage of its growth, providing investors with access to its Class A common stock. The company’s latest play comes as US authorities, including the new SEC Chair Paul Atkins, are mulling over plans for clear crypto regulation in the US.
A Great Migration Back To The US For Financial Services Firms
Cryptocurrency journalist Eleanor Terrett described Galaxy Digital’s proposed Nasdaq listing as symbolic, driven by a changing regulatory landscape in the US.
“The move is symbolic of the great migration of U.S. crypto companies moving operations back home as regulatory headwinds have become tailwinds.
At the moment, Bithumb and eToro are targeting a Nasdaq listing in 2024, joining ranks with other financial services firms. Gemini and Circle are also mulling over the prospects of an initial public offering (IPO) before the end of 2025.
While things are falling into place for Mike Novogratz-led firm, Galaxy Digital is making serious plays with digital assets. On-chain data indicates that Galaxy Digital is offloading ETH and scooping SOL tokens on Binance en masse.
Barely one week after the seismic transfer, the company deposited 23,900 ETH on Coinbase, triggering chatter of another mass sale.
Galaxy Digital has been hurtling toward regulatory compliance in recent weeks. The firm famously reached a $200 million settlement agreement with the NYAG over the sale of LUNA tokens.
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
