Galaxy Digital, a leading American digital asset investment firm, has finally secured its listing on the Nasdaq Global Select Market after a four-year journey that cost $25 million. The firm’s founder, Mike Novogratz, celebrated the milestone with a post on X, confirming that trading has commenced under the ticker symbol $GLXY.
Novogratz revealed in an interview with CNBC that bringing Galaxy Digital public in the US was a long and challenging process. He stated that it felt “un-American” to wait four years for approval, and that the SEC’s nine rounds of feedback added to the delay. However, Novogratz emphasized that the firm’s strong financial position and large capitalization were necessary to navigate the complex regulatory landscape.
The community has welcomed Galaxy Digital’s listing with enthusiasm, with many expressing their support for the firm’s philanthropic work. The stock debuted at $23.50 per share and quickly gained traction, reflecting market optimism around the listing. At its peak, the stock reached $31.49, indicating investor confidence in the firm’s ability to navigate the US market.
Galaxy Digital’s Nasdaq debut is part of a broader trend of crypto-focused firms entering traditional markets. As Bitcoin’s price surge reignites interest in digital assets and their stocks, institutional investors are increasingly exploring this space. This shift is driving the convergence of traditional finance and digital assets, paving the way for a more integrated market.
Source: https://ambcrypto.com/galaxy-digital-secures-nasdaq-listing-after-4-years-glxy