Galaxy Digital Lists on Nasdaq, Setting Stage for Stock Tokenization Push

Galaxy Digital officially commenced trading on the Nasdaq exchange under the ticker GLXY on May 16th, following a direct listing. The company’s stock opened at $23.50 per share, marking a significant shift from its previous trading on the Toronto Stock Exchange since 2020. CEO Mike Novogratz expressed frustration over the lengthy listing process that spanned 1,320 days and involved multiple rounds of feedback with the SEC. This cost over $25 million, but Novogratz emphasized the company’s need for financial resilience in anticipation of future regulatory hurdles.