Galaxy Digital is now one step closer to listing on the Nasdaq after receiving U.S. Securities and Exchange Commission (SEC) approval to redomicile its corporate base to Delaware. The crypto investment firm, currently listed in Toronto, expects to make its Nasdaq debut by mid-May, pending final shareholder and TSX approval.
The shareholder vote, scheduled for May 9, will determine whether Galaxy moves its domicile from the Cayman Islands to Delaware, a key regulatory milestone that aligns with its U.S. expansion strategy.
Once listed, Galaxy will trade under the ticker GLXY. The move is expected to attract more institutional capital, solidifying the company’s footprint in the U.S. public markets.
Crypto Firms Eye Public Markets as Institutional Momentum Builds
Galaxy’s transition reflects a broader trend: crypto companies are actively pushing into traditional financial markets. The past year has seen increasing alignment between digital asset firms and Wall Street, fueled by clearer regulations and institutional demand.
In December 2024, MicroStrategy, now rebranded as Strategy, joined the Nasdaq-100 index. In April 2025, Circle—the issuer of USDC—filed for an initial public offering (IPO), signaling the continued rise of stablecoin giants in public markets.
Many of these firms are also seeking U.S. bank charters, aiming to integrate more deeply into traditional financial infrastructure.
Crypto’s Banking Ambitions Highlight Regulatory Convergence
As crypto firms pursue IPOs and banking licenses, the line between decentralized finance and traditional finance continues to blur. Companies like Circle are not seeking to become full-fledged banks, but rather to align with regulatory norms and compliance standards.
According to Circle’s Chief Strategy Officer Dante Disparte, obtaining a U.S. bank license would be a compliance move—not a pivot away from crypto. These efforts reflect growing regulatory convergence, as digital asset firms seek credibility, oversight, and access to broader capital markets.
Quick Facts
- Galaxy Digital received SEC approval to redomicile to Delaware, a key step toward Nasdaq listing.
- The company aims to debut on the Nasdaq under the ticker GLXY by mid-May.
- Crypto firms like Circle and Strategy are also moving toward IPOs amid institutional momentum.
- Several firms are exploring U.S. bank charters to deepen integration with traditional finance.
