On May 16, 2025, Galaxy Digital, the cryptocurrency company started by billionaire Mike Novogratz, proceeded with its Nasdaq listing after a great deal of hype. GLXY shares were listed on the exchange under the ticker “GLXY,” and made a strong debut in the U.S. public markets, opening at $23.50 and closing at $24.89.
Galaxy Digital’s entry into the Nasdaq adds a big achievement to the world of crypto. Before, the business was listed on the Toronto Stock Exchange and aimed to be listed on an American stock exchange since 2021. It took over three years and nine reviews by the U.S. Securities and Exchange Commission (SEC) to complete the necessary steps to enter the U.S. market.
According to Mike Novogratz, the company’s CEO, regulatory delays are making the process unfair and frustrating. He found that the lengthy process for getting a new product approved resulted in higher costs for auditing and compliance. Novogratz believes that now that Galaxy Digital is trading in the U.S., the company’s expenses will drop by about 40% in the coming weeks.
At this important time for cryptocurrencies, Galaxy Digital’s listing has succeeded. This is also happening as eToro launches on the Nasdaq and Coinbase enters the S&P 500 index. This shows that the mainstream financial sector and markets are growing to accept and fully embrace cryptocurrencies.
As well as being listed on a public exchange, Galaxy Digital is working hard on cutting-edge solutions. The company is considering the idea of issuing digital forms of its own shares. Together with the SEC, Galaxy will launch tokens that let owners partake in its profits. You might be able to apply these tokens with DeFi, lending or borrowing money in a way that shares cannot provide.
A key reason for this is that the industry is trending toward bringing real assets onto blockchains. Galaxy Digital is focusing on bringing the traditional financial landscape and the new decentralized economy together.
Since 2018, Galaxy Digital has introduced new services in areas such as asset management, trading, investment banking and mining. Thanks to the firm, institutional investors have found it easier to deal with the constantly changing digital asset market.
With this listing, Galaxy Digital now becomes one of few crypto-native companies to compete in the traditional business world. This step indicates that filers are more confident in digital asset firms’ future in the financial field. Galaxy Digital is poised to lead the march towards merging traditional Wall Street and the new blockchain financial sector.
