Cryptocurrency investment firm Galaxy Digital intends to shift the listing of its shares from Canada to the US early next month. The company, established by Mike Novogratz, who is a known Bitcoin advocate, will migrate to the Nasdaq from the Toronto Stock Exchange on May 16, subject to approval by the shareholders at a meeting to come.
Shareholders To Vote On US Market Move
As per reports, Galaxy Digital has called a special meeting of its shareholders for May 9 to secure final approval for the change in listing. The firm will not be exiting the Toronto market in which it listed in July 2020 right away. Rather, it will continue to trade on both exchanges during a transition phase. When the relocation occurs, the firm aims to go by the ticker symbol GLXY on Nasdaq.
Galaxy is preparing to list on Nasdaq—and we couldn’t be more excited. AMA!
This moment represents a major milestone not just for us, but for the entire digital asset industry. For years, crypto companies in the U.S. have faced a challenging regulatory environment. That’s…
— Galaxy (@galaxyhq) April 28, 2025
Novogratz outlined the potential listing as a key move for the company on April 30. He explained that the Nasdaq listing would position the company to advance its vision of building a “gateway for investors” to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems.
The intended relocation is happening at a tough time for Galaxy Digital’s stock performance. According to Google Finance data, shares in the company have fallen 12% on the Toronto Stock Exchange since January 2025. The decline reflects wider market difficulties experienced over recent months.
The Nasdaq 100 index itself has declined 7.30% year-to-date, based on TradingView data. But April did provide a bit of stability for markets, with the index finishing the month up over 1%. Some investors believe recent negative sentiment regarding the economy could be excessive.
Other Crypto Stocks Show Recent Gains
As Galaxy Digital gears up for its listing, various crypto-focused companies already listed on Nasdaq have witnessed their shares increase in April. This follows months of doubt partly triggered by economic worries surrounding tariffs introduced by US President Donald Trump.
Cryptocurrency exchange Coinbase (COIN) enjoyed a 17% increase in stock. Michael Saylor’s company, Strategy (MSTR), was even better off, posting a nearly 32% rise. Bitcoin mining firm CleanSpark (CLSK) was also up with a 21% gain, Google Finance figures show.
The increases indicate that although there are hiccups in the overall market, there is still keen investor interest in cryptocurrency stocks.
Featured image from Gemini Imagen, chart from TradingView
