The American financial services and digital assets company Galaxy Digital, founded and led by former Goldman Sachs banker Mike Novogratz, has taken a decisive step in its process of listing on Nasdaq. After receiving approval from the Securities and Exchange Commission (SEC), the company is now ready to enter the U.S. financial markets, marking an important evolution in the landscape of cryptocurrencies and digital investments.
Green light from the SEC: turning point for Galaxy Digital in the Nasdaq universe
The official permission from the SEC represents a significant achievement for Galaxy Digital, which has long awaited approval to transfer its listing from Canada to the United States. Currently, the group is already present on the Toronto Stock Exchange with the ticker GLXY. However, the American market remains the main goal both for visibility and for access to the larger institutional capitals.
The review by the U.S. regulatory agency concluded positively after months of analysis. Galaxy Digital will therefore be able to submit a formal 10-12G registration, a crucial step to be listed on Nasdaq. Although an official date for the listing has not yet been set, the SEC’s approval represents a key certification for the company’s reliability and solidity.
A growing company at the center of the crypto sector
Founded in 2018 by Mike Novogratz, Galaxy Digital quickly became one of the most influential players in the world of cryptocurrencies and digital assets. The company operates in various sectors, including cryptocurrency trading, wealth management, investment banking, and solutions for tokenization.
The declared ambition is to create a bridge between the traditional financial system and the growing crypto universe. With branches in New York, Tokyo, Hong Kong, and Amsterdam, Galaxy has managed to establish itself as a global entity in step with technological and regulatory evolution.
SEC Filing: timeliness and strategy
The approval process by the SEC required time and adjustments. Galaxy had initially announced the intention to move to the U.S. market as early as 2021, but regulatory complexities delayed the process. The 10-12G document filed with the American agency was updated several times, and only at the end of May 2024 did the SEC give its official assent.
According to sources close to the company, the group is considering the timing and conditions for listing on Nasdaq during the fourth quarter of 2024, although the company clarified in a note that the precise timing “remains subject to further regulatory and market considerations.”
The importance of the listing on Nasdaq for Galaxy Digital
Entering the most prestigious tech index in the world is not just a symbolic choice. Presence on Nasdaq would provide Galaxy Digital with greater credibility in the eyes of institutional investors, as well as increased opportunities for capital raising. Additionally, it would enhance public visibility and further solidify the company’s already strong position in the cryptocurrency sector.
It should be remembered that the Nasdaq already hosts well-known names from the digital universe like Coinbase, as well as numerous tech companies with interests in Web3 and blockchain. With its entry, Galaxy Digital would strengthen the group of entities operating in new decentralized finance.
Mike Novogratz and the vision behind Galaxy
A charismatic and passionate figure in the world of cryptocurrencies, Mike Novogratz is one of the most well-known faces on Wall Street to have bet on the future of the digital economy. After a long career at institutions like Goldman Sachs and Fortress Investment Group, he founded Galaxy Digital with the idea of integrating traditional finance with emerging technologies.
Novogratz has often emphasized the need to build “an institutional financial infrastructure for Web3,” and has been among the early supporters of Bitcoin on a global level. The arrival on Nasdaq therefore represents, even for him, a fundamental milestone in the journey towards the legitimization of the crypto ecosystem.
Growth and future strategy
After some difficulties related to the bear market of 2022, Galaxy Digital showed signs of growth in 2023 and 2024. The company expanded its services, formed partnerships with institutional operators, and invested heavily in the tokenization of real assets, one of the most promising sectors in digital finance.
In its most recent report, the company highlighted ambitious plans related to artificial intelligence and blockchain as a tool for wealth management, confirming an entrepreneurial vision oriented towards innovation.
An evolving context: Galaxy at the helm
The SEC approval and the upcoming listing come at a time of growing attention towards the crypto world by financial institutions. After years of regulatory uncertainty, the US market now seems more open and ready to handle the integration of cryptocurrencies into traditional investors’ portfolios.
Galaxy Digital is therefore preparing to be one of the protagonists of this new phase. Its entry into Nasdaq could serve as a catalyst for many other companies in the sector, which would see the possibility of a collaboration between regulated finance and digital innovation strengthened.
Conclusion: a historic step for digital finance
With the green light from the SEC and the imminent arrival on Nasdaq, Galaxy Digital strengthens its position as a point of reference in the convergence between finance and technology. The move represents not only a change of listing but a strong signal to the financial world: the time of marginalization of cryptocurrencies is over, and the most solid companies are ready to play a leading role in the international markets.
The sector watches with attention and anticipation. The approval of the SEC is only the beginning: 2024 could prove to be a key year for crypto-finance, and Galaxy Digital seems determined to lead its evolution.