Key takeaways:
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Galaxy Digital plans to start buying and selling on the Nasdaq on Might 16, pending shareholder and Nasdaq approval.
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Nasdaq-listed crypto companies posted strong positive aspects in April after a interval of macroeconomic uncertainty.
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Galaxy CEO Mike Novogratz says the listing will broaden the corporate’s investor base and US presence.
The Toronto Inventory Trade (TSX) listed crypto funding agency Galaxy Digital is about to maneuver to the US-based Nasdaq on Might 16, pending stakeholder approval at its upcoming shareholders assembly.
Galaxy’s deliberate transfer comes as a number of Nasdaq-listed crypto companies noticed substantial positive aspects in April, following a turbulent few months of macroeconomic uncertainty.
Galaxy founder and CEO Mike Novogratz said on April 30 that the listing can be a milestone “that might place us to advance our imaginative and prescient of constructing a gateway for traders to securely and effectively entry each nook of the digital asset and synthetic intelligence ecosystems.”
Nasdaq listing will widen Galaxy’s investor base
A particular Galaxy shareholders’ assembly is scheduled for Might 9 to hunt last approval for the transfer, with Nasdaq additionally needing to supply its approval earlier than listing the crypto agency.
The corporate plans to make use of the ticker image GLXY on the Nasdaq, and if it goes forward with the listing, will enter a transition interval throughout which it can proceed to commerce on the TSX, on which it first listed in July 2020.
Galaxy is down 12.28% on the TSX to date this yr amid a broader market downturn, according to Google Finance knowledge.
In the meantime, the Nasdaq 100 is down 7.33% to date in 2025, according to TradingView knowledge. Nevertheless, it held regular in April, with some commentators downplaying the current bearish sentiment.
Novogratz is extensively recognized as a pro-crypto advocate and Bitcoin (BTC) bull. It was reported on April 17 that Galaxy Ventures Fund I LP is expected to boost round $175 million to $180 million by the top of June to construct a portfolio of 30 crypto and blockchain startups.
Crypto entrepreneur Anthony Pompliano said in an April 30 X post that “the Nasdaq 100 ended April up greater than 1%, and individuals are nonetheless speaking concerning the Nice Melancholy.”
“Insane,” Pompliano added.
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A number of crypto-related companies listed on the Nasdaq have posted positive aspects over the previous month, following broader market turbulence on account of macroeconomic uncertainty stemming from Trump’s tariffs.
Crypto change Coinbase (COIN) is up 17.80%, Michael Saylor’s Technique (MSTR) is up 31.86%, and Bitcoin mining agency CleanSpark (CLSK) is up 21.58%, according to Google Finance knowledge.
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This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a call.
