Galaxy Digital’s Big Move to Nasdaq: Will It Pay Off or Just Be Another Crypto Drama?

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Key takeaways (because who doesn’t love a good bullet point?):

  • Galaxy Digital plans to make a grand entrance onto the Nasdaq on May 16, but only if its shareholders and Nasdaq themselves give it the thumbs up.

  • Crypto companies listed on the Nasdaq have been having a surprisingly good April, despite the economic rollercoaster ride of the past few months. Who knew?

  • Mike Novogratz, the man behind Galaxy, says this move will make the company a household name in the U.S. because apparently, it wasn’t already.

So here’s the deal: Toronto-based Galaxy Digital, the crypto investment firm, is packing its bags and heading to the big leagues: Nasdaq. This all happens on May 16—pending a shareholders meeting and, of course, Nasdaq’s approval. But who’s counting? Probably the shareholders, but that’s another story.

Now, why are they doing this? Well, as luck would have it, several other Nasdaq-listed crypto firms just had a pretty decent April after months of market chaos. It’s like they caught a wave right before the summer surge. Fancy, right?

Mike Novogratz, the CEO of Galaxy and your favorite crypto evangelist (if you’re into that sort of thing), claims that this listing is going to be a “milestone.” He says it’ll help Galaxy “advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and AI ecosystems.” No pressure, Mike. 🤷‍♂️

Nasdaq listing = more investors (hopefully)

But wait! There’s more: A special Galaxy shareholders meeting is set for May 9, where they’ll all decide whether or not this crazy Nasdaq adventure is actually worth it. Spoiler: Nasdaq has to approve it too. No one’s making moves just yet.

In case you were wondering, Galaxy plans to use the ticker symbol GLXY on Nasdaq—because why not make it sound as futuristic as possible? If all goes according to plan, Galaxy will enter a transition period during which it will continue to trade on the TSX, the exchange it first graced in 2020. A little bit of old, a little bit of new. Love that for them.

Fun fact: Galaxy is down 12.28% on the TSX this year—because markets have been less “Woo-hoo!” and more “Ughhh” lately. But hey, it’s not all bad news. Just a little downturn, right? (According to Google Finance, at least.)

Meanwhile, the Nasdaq 100 is down 7.33% so far this year (thanks, 2025!), but it’s holding steady in April, which some folks are calling a “win.” Kind of like getting a gold star for not failing the class, right?

Novogratz, who’s basically the unofficial face of crypto optimism, also revealed on April 17 that Galaxy Ventures Fund I LP is expecting to raise between $175 million and $180 million by June. This money will go towards investing in a portfolio of 30 crypto and blockchain startups. So, you know, no biggie—just casually transforming the future of finance. 💸

In case you missed it, crypto entrepreneur Anthony Pompliano posted something on X (formerly Twitter—who’s keeping up?) on April 30. He pointed out that while the Nasdaq 100 finished April up more than 1%, people are still freaking out about the “Great Depression” like it’s 1929. “Insane,” he said. And honestly, we agree, Anthony. It’s insane. 😱

But here’s the kicker: Despite all the doom and gloom, several crypto companies listed on the Nasdaq have seen serious gains recently. Coinbase (COIN) is up 17.80%, Michael Saylor’s Strategy (MSTR) is up 31.86%, and CleanSpark (CLSK), a Bitcoin mining firm, is up 21.58%. So maybe all this chaos is just the perfect backdrop for a little crypto revival. Who knew?

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2025-05-01 07:16