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 has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
