Galaxy Digital plans to return to United States
Galaxy Digital Holdings has received a green light from the U.S. Securities and Exchange Commission (SEC) to proceed with its corporate reorganization and re-domestication from the Cayman Islands to Delaware—marking a pivotal step in its plan to re-enter U.S. public markets.
The move signals growing confidence in the evolving U.S. regulatory climate for digital assets, reports Cryptopolitan.
Galaxy Digital, led by CEO Mike Novogratz, now joins peers like Coinbase and Robinhood in tapping into U.S. capital markets, benefiting from higher liquidity and deeper institutional engagement. The reorganization includes the formation of a new entity, Galaxy Digital Inc., which is expected to list on the Nasdaq Global Market under the ticker “GLXY,” pending shareholder and regulatory approval.
Shareholder Vote Set for May 9
Galaxy’s shareholders are set to vote on the reorganization during a special meeting on May 9. The company will distribute informational circulars to eligible stakeholders ahead of the meeting, outlining the rationale and structural changes tied to the reorganization. If approved, the listing on Nasdaq is anticipated by mid-May 2025. Galaxy Digital Inc. will temporarily maintain its listing on the Toronto Stock Exchange to accommodate its Canadian investor base.
Novogratz described the SEC’s registration approval as “an important milestone,” reflecting the firm’s confidence in U.S. regulatory direction. Galaxy has recently expanded its operational footprint, including investments in AI and digital asset infrastructure, with notable initiatives such as its Texas-based data center expansion.
This domestication effort arrives amid broader regulatory recalibrations in the U.S., where the SEC has faced criticism for stifling crypto innovation. Galaxy’s return to U.S. markets, rather than seeking friendlier overseas jurisdictions, underscores optimism about domestic policy progress.
The company’s board has appointed a special committee of independent directors to oversee the process. The group has unanimously recommended the reorganization, calling it fair and in the best interests of shareholders. With institutional demand for regulated crypto products growing, Galaxy Digital is positioning itself to capitalize on renewed investor confidence and the evolving U.S. crypto landscape.
Recently we wrote, that Mike Novogratz, founder and CEO of Galaxy Digital, announced that the company has reached a significant milestone in its path to a Nasdaq listing.
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