- Galaxy Digital shares started trading on Nasdaq on May 16 after a lengthy approval process.
- The company began its Nasdaq debut at $23.50 per share and remains listed in Canada.
- Galaxy Digital is collaborating with the SEC to potentially tokenize its shares for decentralized finance use.
- The company reported first-quarter 2025 losses of $295 million with $7 billion in platform assets.
- Interest in real-world asset tokenization is increasing, with several crypto firms planning U.S. listings and new digital initiatives.
Galaxy Digital launched trading of its shares on the Nasdaq stock exchange on May 16, after a process that CEO Mike Novogratz described as unfair and frustrating. The move allows the crypto and infrastructure company wider access to U.S. investors while it continues trading on the Canadian market.
The company opened trading at $23.50 per share in its Nasdaq debut. On the same day, Galaxy Digital announced it is working with the U.S. Securities and Exchange Commission (SEC) to tokenize its shares. According to Bloomberg, these tokens could be used in decentralized finance (DeFi) applications, such as borrowing and lending, allowing traditional shares to be traded as digital assets.
Other crypto-focused firms, including Metaplanet, Circle, Kraken, and Gemini, are also considering U.S. market listings. Trading platform EToro completed a similar listing on May 14. Galaxy Digital reported $7 billion in assets on its platform but announced a first-quarter 2025 loss of $295 million. Additional financial information can be found in the company’s quarterly release.
Tokenization of traditional assets, also known as real-world asset (RWA) tokenization, is growing in the crypto sector. The market value of RWAs reached $22.5 billion, according to data from RWA.xyz, more than doubling over the past year, but still small compared to global asset values and cryptocurrencies like Bitcoin.
Converting securities and similar assets into blockchain-based tokens is becoming a trend, with companies such as Robinhood exploring blockchain infrastructure for retail trading of tokenized securities in Europe. Galaxy Digital is planning to expand its tokenization efforts to include stocks, fixed-income products, and ETFs.
During an SEC crypto roundtable on May 12, Chair Paul Atkins compared asset tokenization to the transition of the music industry from analog to digital formats, saying that such changes benefited the U.S. economy. Increasingly positive engagement between the crypto industry and the U.S. government has contributed to a surge in crypto company activities and new plans for public listings in the country.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- France Boosts Security for Crypto Entrepreneurs After Kidnappings
- TRX Consolidates After Failed Breakout Amid Market Uncertainty
- Senate Prepares Second Vote on Genius Act as Stablecoin Debate Grows
- Argentine Judge Lifts Milei’s Bank Secrecy in LIBRA Crypto Probe
- Solana Token Craze Grows as Startups Shun Traditional Fundraising
