Galaxy Digital Shares Surge by More Than 10% After Official Nasdaq Listing
Shares of Galaxy Digital, led by Bitcoin enthusiast Mike Novogratz, surged by nearly 15% on Friday after the crypto investment firm made its debut on the Nasdaq via a direct listing.
This move expands Galaxy’s presence in the U.S. market, where it is now publicly traded under the ticker symbol GLXY.
While Galaxy Digital’s shares are now listed on Nasdaq, they will continue to be traded on the Toronto Stock Exchange for a transitional period, according to company statements.
Additionally, Galaxy confirmed that over-the-counter (OTC) shares previously available in the U.S. will be converted into the new GLXY shares on the Nasdaq.
This listing marks a significant moment for Galaxy Digital, following a flurry of activity within both the company and the broader cryptocurrency space.
Despite the excitement surrounding the Nasdaq listing, Galaxy reported a net loss and a decline in revenue for Q1. The company attributed the downturn to “reduced market activity and client trading volumes” caused by “lower digital asset prices” earlier in the year.
While Bitcoin saw a spike in early January due to expectations that the Trump administration might adopt policies favorable to the cryptocurrency market, its value later slipped back, impacting overall market performance.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
