Galaxy Digital is moving closer to its long-awaited U.S. stock market debut after the Securities and Exchange Commission approved the company’s registration statement.
According to the company’s official statement on Apr. 7, the approved Form S-4 relates to Galaxy’s previously announced plan to shift base from the Cayman Islands to Delaware and establish a new U.S.-based holding company, Galaxy Digital Inc. (“New Pubco”).
Under the reorganization, existing shareholders will receive shares of New Pubco’s Class A common stock on a one-for-one basis, with no change in economic interest or voting power.
The firm intends to list the Class A shares on the Nasdaq Global Select Market under the ticker symbol “GLXY.” To finalize the reorganization, Galaxy has scheduled a special shareholder meeting for May 9, 2025. Shareholders on record as of Apr. 7 are eligible to vote.
If approved, the reorganization and listing are expected to be completed by mid-May, pending a final sign-off from the Toronto Stock Exchange, where Galaxy is currently listed. Following the transaction, Galaxy Digital Inc. will remain listed on the TSX for a transitional period, allowing dual listing of shares across the U.S. and Canadian markets.
CEO Mike Novogratz called the development “an important milestone” and noted that the transition supports Galaxy’s broader mission to scale digital asset services and artificial intelligence infrastructure in regulated U.S. markets.
“This marks an important milestone for Galaxy, as we take a significant step toward advancing our mission of driving innovation and growth across digital assets and artificial intelligence infrastructure. We look forward to completing the transaction this quarter.”
— Mike Novogratz, Galaxy Digital CEO
To assist in overseeing the shareholder voting procedure, Galaxy has enlisted the help of TMX Investor Solutions Inc. A document detailing the reorganization, its rationale, and voting procedures will soon be sent to shareholders.
Galaxy Digital is known for offering institutional-level cryptocurrency services, including trading, asset management, and tokenization. The business, which has grown across North America, Europe, and Asia, has also made large investments in high-performance computing infrastructure and AI.
