On May 16, 2025, Galaxy Digital Holdings Ltd. (TSX:GLXY) (NASDAQ:GLXY)began trading on the Nasdaq Global Select Market, marking a significant milestone for the company and the broader digital asset industry. The company’s shares opened at $23.50 closing at $22.80 after topping $25 a share. Galaxy is a multi-faceted digital asset firm that is also targeting artificial intelligence.
This move, announced earlier in April, follows the completion of a reorganization and domestication process, transitioning Galaxy from a Cayman Islands-based entity to a Delaware-incorporated company.
The listing, approved by shareholders on May 9 and finalized by Nasdaq, positions Galaxy to expand its reach in the digital assets and artificial intelligence (AI) sector.
As CEO Mike Novogratz stated, “We’re just getting started,” signaling plans for growth and business expansion.
Founded in 2018, Galaxy has established itself as a global firm focused on digital assets and blockchain technology, offering a suite of financial services tailored to institutions, startups, and qualified individuals.
The company operates across three core pillars: Global Markets, Asset Management, and Digital Infrastructure Solutions.
These encompass trading, lending, advisory services, institutional-grade investment products, proprietary bitcoin mining, and enterprise custodial technology.
With offices in New York City, London, Tokyo, and other places, Galaxy’s holistic platform is designed to bridge traditional finance and the digital economy.
The Nasdaq listing is a transformative step, enhancing Galaxy’s visibility and accessibility to a broader investor base.
Novogratz emphasized that the move aligns with the company’s vision of building a gateway for investors to safely navigate the digital asset and AI ecosystems.
Despite reporting a $295 million net loss in Q1 2025, Galaxy remains financially steady, holding $1.1 billion in cash and stablecoins.
This liquidity supports its ongoing expansion, including investments in AI computing infrastructure through partnerships like CoreWeave, reflecting Galaxy’s commitment to diversifying beyond crypto into high-performance computing.
The transition to Nasdaq also underscores Galaxy’s resilience in a challenging regulatory environment for crypto companies in the U.S.
By domiciling in Delaware and listing on a major U.S. exchange, Galaxy is better positioned to advocate for clearer regulations and foster mainstream adoption of digital assets.
The company’s recent acquisitions, such as Vision Hill Group and GK8, have bolstered its capabilities in asset management and secure blockchain custody, respectively.
Notably, GK8’s Tokenization Wizard, launched in 2024, enables institutions to tokenize real-world assets, from real estate to intellectual property, paving the way for new revenue streams.
Galaxy’s Nasdaq debut arrives at a pivotal moment for the digital asset industry.
As DLT / blockchain technology reshapes finance, and AI drives demand for scalable computing, Galaxy’s integrated platform is equipped to capitalize on these trends.
The company’s research initiatives continue to educate and guide investors, reinforcing its role as an impactful digital assets industry participant.
While Galaxy will maintain its listing on the Toronto Stock Exchange (TSX) for now, the Nasdaq listing signals a step toward its global business expansion efforts.
As Galaxy Digital begins this new chapter, its focus remains clear: to accelerate progress in finance and digital technology.
With an professional team led by Novogratz, an experienced executive in both crypto and traditional finance, Galaxy is poised to play a key role in the future of the digital economy.
Today’s Nasdaq listing is not just a milestone—it’s hopefully also a launchpad for Galaxy’s next moves towards improved product development.