Galaxy Digital Approved to Redomicile Ahead of Nasdaq Listing
Galaxy Digital Holdings Ltd. has received approval from the U.S. Securities and Exchange Commission (SEC) to redomicile from the Cayman Islands to Delaware, a strategic move that paves the way for its anticipated listing on the Nasdaq Global Select Market. This transition aligns Galaxy Digital with U.S. regulatory frameworks and is expected to enhance its appeal to institutional investors. The company aims to commence trading under the ticker symbol GLXY on May 16, 2025, contingent upon final approvals from the Toronto Stock Exchange and shareholder consent at a special meeting scheduled for May 9.
The redomiciling process is part of Galaxy Digital's broader corporate reorganization, designed to streamline its operations and governance structures within the United States. By incorporating in Delaware, known for its business-friendly regulations, Galaxy Digital anticipates improved access to U.S. capital markets and increased trading liquidity. The company has filed a registration statement on Form S-4 with the SEC, detailing the proposed reorganization and domestication, which was declared effective on April 7, 2025.
Galaxy Digital's CEO and founder, Mike Novogratz, emphasized that the Nasdaq listing represents a transformative milestone for the company. He stated that this development positions Galaxy to advance its vision of providing investors with secure and efficient access to the digital asset and artificial intelligence ecosystems. The company's shares will continue to trade on the Toronto Stock Exchange (TSX) under the same ticker, GLXY, ensuring continuity for existing investors.
