Galaxy Digital Plans Nasdaq Listing on May 16 Amid ETF Launch
Galaxy Digital plans to list on Nasdaq on May 16, pending shareholder approval on May 9. The SEC has approved the company's registration statement. Galaxy shares currently trade on the Toronto Stock Exchange and will continue to do so for a period after the Nasdaq listing.
CEO Mike Novogratz highlighted that this move is intended to attract a broader investor base, emphasizing the importance of financial metrics beyond Bitcoin alone.
In related news, Grayscale has launched an ETF focused on companies adopting Bitcoin as a treasury asset. Notably, Galaxy's shares are one of the fund’s largest holdings. The top two positions in the fund are Strategy and Tesla, comprising approximately 27% and 17% respectively.
Bitwise introduced a similar ETF in March, which has seen only $5 million in assets under management after two months. The demand for these funds is expected to grow as corporate Bitcoin adoption increases.