The crypto firm Galaxy Digital has paved a key milestone of being approved to list on Nasdaq by the New SEC Crypto Update. This is a signal towards regulatory turns under the new administration.

The move comes after Galaxy planned to reorganize and move the company from the Cayman Islands to Delaware to open it up to broader access to U.S. institutional investors.

Key-Takeaways:

• It is a much-awaited shift in regulation, as Galaxy Digital also received SEC approval for listing on Nasdaq. The company hopes to finish off reorganization and listing by mid-May for broader U.S. investor exposure.
• Galaxy goes from a holding company in Canada and delists from the TSX to an American holding company. The firm still plans to continuously fuel its growth strategy in crypto and AI despite past legal challenges facing the company.

SEC Gives Crypto Update Green Light to Reorganization Strategy

Galaxy Digital’s restructuring plan revolves around the creation of a new Delaware holding company Galaxy Digital Inc. The latest SEC Crypto update states that the firm will still remain listed on the Toronto Stock Exchange (TSX) with the same tick under GLXY and then add Nasdaq.  

Shareholder approval of the reorganization is necessary and the special meeting to approve it is scheduled for May 9, 2025. Galaxy Digital Holdings will merge with Galaxy Digital Inc., which will remain as the surviving company, after the vote.

Galaxy Digital’s restructuring plan revolves around the creation of a new Delaware holding company Galaxy Digital Inc. The latest SEC Crypto update states that the firm will still remain listed on the Toronto Stock Exchange (TSX) with the same tick under GLXY and then add Nasdaq.  

Shareholder approval of the reorganization is necessary and the special meeting to approve it is scheduled for May 9, 2025. Galaxy Digital Holdings will merge with Galaxy Digital Inc., which will remain as the surviving company, after the vote.

Galaxy Digital’s restructuring plan revolves around the creation of a new Delaware holding company Galaxy Digital Inc. The latest SEC Crypto update states that the firm will still remain listed on the Toronto Stock Exchange (TSX) with the same tick under GLXY and then add Nasdaq.

Shareholder approval of the reorganization is necessary and the special meeting to approve it is scheduled for May 9, 2025. Galaxy Digital Holdings will merge with Galaxy Digital Inc., which will remain as the surviving company, after the vote.

Galaxy founder and CEO Mike Novogratz shared his comments on the SEC crypto update saying, “We’re pleased to announce the effectiveness of our registration statement with the SEC.” It is an important milestone for Galaxy.

Additionally, he said the company is taking a big step toward the mission of advancing innovation and growth in the space of digital assets and artificial intelligence infrastructure.

Under the Form S-4 document filed March 27, 2025, with the SEC in connection with the reorganization, Novogratz will continue to have in excess of 50 percent voting power of the combined voting power following the reorganization, and, therefore, Galaxy will be a controlled company subject to Nasdaq rules.

Delaware Relocation Central to SEC Crypto Update Strategy

The SEC crypto update says a lot about Galaxy’s decision to up and move to Delaware. Delaware has a favorable corporate environment and there is plenty of case law that is adopted to current technology and legal trends, according to the company. By doing so, Galaxy Digital can compete against other publicly traded funds lodged in Delaware.

Galaxy’s growth ambitions find corroboration in the state’s corporate friendly legal framework which offers certainty and flexibility that will be beneficial. The documentation included in the SEC crypto update filing outlines that this is a key part of Galaxy’s larger strategy to be a player within the U.S. mainstream financial system.

SEC Crypto Update Precedes Recent Legal Settlements

Then, just before this SEC crypto update, Galaxy reached a deal with the New York Attorney General’s Office to be fined $200 million over three years. The settlement, which pertains to allegations that the firm misrepresented the breaking algorithmic cryptocurrency LUNA and sold huge quantities of the asset without proper disclosure, arises from the settlement.

It seems that this resolution removed a potential obstacle to Galaxy’s aspirations to be listed in Nasdaq. SEC crypto update takes place at a moment when the company removed key regulatory concerns already raising its status and that of its investors with regulators.

This SEC crypto update coincides with a period of renewed crypto public listing interest under the Trump administration. Among the companies that have accelerated their public listing plans are Circle, Kraken, Gemini, Ripple, and Bullish.

But in the wider IPO market, there are problems with recent market volatility. Companies such as StubHub, Klarna and eToro are in the process of delaying their IPO plans due to big concerns about valuing companies during the historically high volatility level.

However, all of that might change thanks to an SEC crypto update that seems to have proved positive for Galaxy Digital, as it looks to still push ahead with its Nasdaq listing.

According to the current exchange rates, Bitcoin was valued at approximately $79,065.58, while its gain of 1.17 percent was Ethereum at about $1,546.03, with a gain of 0.35 percent. However, XRP displayed a 4.23% increase at $1.92.

Conclusion

The SEC crypto update about Galaxy Digital is a big step toward bridging crypto and traditional finance. Galaxy hopes to be on a growing list of crypto firms that nevertheless enter mainstream markets against some regulatory hurdles if the reorganization and listing are completed by mid-May.