- Galaxy Digital secures Nasdaq listing after a 4-year, $25M regulatory journey.
- Bitcoin’s surge boosts interest in crypto-linked equities like GLXY and Coinbase.
In a defining moment for crypto’s Wall Street crossover, Galaxy Digital, an American digital asset investment firm founded by Mike Novogratz, has officially secured its listing on the Nasdaq Global Select Market.
Mike Novogratz celebrates Galaxy Digital’s listing
Celebrating the milestone with a post on X (formerly Twitter), the founder confirmed that trading has commenced under the ticker symbol $GLXY.
He said,
“Proud moment. Beyond grateful to our team, investors, partners, and everyone on the journey. $GLXY.”
In a separate interview with CNBC, Novogratz further revealed that bringing Galaxy Digital public in the U.S. cost him four years and over $25 million.
He said,
“It felt un-American, unfair, infuriating.”
Novogratz shared that what was expected to be a 90-day process dragged on for 1,320 days and required nine rounds of SEC feedback.
He added,
“One of the things that people didn’t understand about the crypto tax is that you needed to be very well capitalized — and a pretty big, strong company — just to stay in the game.”
Community reaction
As expected, the community was thrilled with this news, as noted by an X user, Dustin Burnham, who noted,
“I remember listening to you discuss your philanthropic work where you pay for bail in cases that people are being held in prison simply over bail issues. Really cool stuff, congrats Mike!”
Echoing similar sentiments was Jeremy Almond, who added,
Source: Jeremy Almond/X
Impact on stock price
Shortly after overcoming regulatory hurdles, Galaxy Digital officially began trading on the Nasdaq under the ticker symbol $GLXY.
The stock debuted at $23.50 per share and quickly gained traction, reflecting market optimism around the listing.
At the time of trading, Galaxy Digital’s stock saw a 3.01% uptick, reaching $31.49 as per Google Finance, signaling investor confidence following the firm’s long-awaited U.S. market entry.
Other firms already listed on the Nasdaq
Needless to say, Galaxy Digital’s Nasdaq debut is part of a broader trend, as several crypto-focused firms, like Marathon Digital Holdings and Coinbase Global Inc., etc. are already trading on the exchange.
This shift comes amid a sharp rise in Bitcoin [BTC]’s price, which has reignited interest in both the asset itself and the stocks tied to it.
Therefore, as more institutional money enters the space, Bitcoin and traditional stocks are becoming more connected, showing how the market is evolving and merging traditional finance with digital assets.
