Ever wish it were easier to invest in a company that’s deep into crypto and AI? Well, Galaxy Digital might just be making that wish come true. They’ve got big plans to list on the Nasdaq, and honestly, it could be a game-changer for investors like us. Stick around, and I’ll break down exactly what’s happening, what needs to click into place, and why you should probably care.
Here’s the scoop: Galaxy Digital is aiming to start trading on the big-league Nasdaq Global Select Market starting May 16, 2025. That’s the target date. If it all goes smoothly, you’ll find them under the ticker symbol GLXY. Pretty cool, right?
Now, hold your horses – it’s not quite a done deal yet. Think of it like needing a couple of green lights before the race starts.
First, the company’s shareholders have a big vote coming up on May 9. They need to give a thumbs-up to a plan that basically shakes things up internally, reorganizing the company and officially moving its home base on paper to Delaware. I think this move makes sense if you want to play ball on a major US exchange.
Second, Nasdaq itself has to give the final nod. No listing happens without their okay. So, keep an eye on that May 9 vote – it’s a crucial first step!
Why the Big Push for Nasdaq?
So, why go through all this trouble? Galaxy’s CEO and founder, Mike Novogratz, has a pretty clear vision. Here’s how I see his point: He believes getting onto Nasdaq is a massive step forward. It’s all about making it simpler and, frankly, safer for everyone–from seasoned pros to maybe even folks just dipping their toes in-to invest in the exciting worlds of digital assets (yep, crypto!) and artificial intelligence (AI). He basically said this move will open the doors much wider for investors.
What about folks who already own Galaxy shares? Good question!
Galaxy says its shares currently trading up north on the Toronto Stock Exchange (TSX) aren’t going anywhere immediately. They’ll stick around for a bit even after the Nasdaq listing happens. They’ll just get a new ID code (CUSIP 36317J209, if you’re into those details).
And if you own the over-the-counter shares trading under the symbol BRPHF? Those are set to simply convert right over to the new Nasdaq ticker, GLXY. Seems fairly straightforward, which is always a relief.
Of course, there’s always paperwork with moves like this. Galaxy dotted its i’s and crossed its t’s by filing the necessary forms with the US Securities and Exchange Commission (SEC), which got the official effective stamp back on April 7. They also mailed out all the important details to shareholders around April 17.
If you are a shareholder (specifically, if you were on the books as of April 7), Galaxy really wants you to read those documents. You can find them online via the SEC, SEDAR+ (that’s the Canadian system), or right on Galaxy’s own investor relations website. Probably a good idea to take a peek if you have a stake in this decision!
Circling back to Novogratz, he’s clearly optimistic. He wrapped up by saying he’s confident this Nasdaq listing will ultimately boost the company’s value and, crucially, attract way more investors.
In my opinion, getting listed on a major US exchange like Nasdaq definitely puts a company in front of way more eyeballs and, potentially, more investment dollars. It just makes sense if you want to grow. Let’s see if shareholders agree on May 9!
