- Galaxy Digital wins SEC approval to move U.S. listing forward with May 9 vote.
- Nasdaq debut and Delaware shift are key to Galaxy’s crypto growth strategy.
- $GLXY drops 8.8% as investors react cautiously to listing and reorg news.
Galaxy Digital has been given the nod by the U.S. Securities and Exchange Commission to proceed with listing on Nasdaq. The investment firm in cryptocurrency and AI is planning to relocate its headquarters from the Cayman Islands to Delaware by mid-May.
In a report by Thompson.org, Galaxy Digital received the SEC’s official go-ahead for its U.S. listing plan, with a shareholder vote set for May 9. The company’s reorganization includes shifting its corporate domicile to Delaware, chosen for its favorable legal framework and dynamic regulatory environment. Galaxy aims to trade under the ticker symbol GLXY following the reorganization’s completion.
Strategic Move to Delaware Signals Galaxy’s Commitment to U.S. Market Expansion
Besides securing the SEC nod, Galaxy announced the effectiveness of its registration statement on Form S-4, paving the way for the next phase of its transition. The company has called a special shareholder meeting for May 9 to approve the reorganization and listing plan. Holders of record as of April 7 are eligible to vote, with materials accessible via SEDAR+ and Galaxy’s investor relations portal.
Galaxy’s CEO, Mike Novogratz, emphasized that this milestone accelerates the firm’s mission in digital assets and artificial intelligence infrastructure. The new Delaware holding company, Galaxy Digital Inc., will inherit Nasdaq and TSX listings temporarily. The transition supports Galaxy’s strategy to compete effectively with other publicly traded crypto firms.
$GLXY Shares See Intraday Volatility Amid Announcement
Galaxy Digital’s stock opened at CA$12.10 on April 7, peaking near CA$13.30 before sliding throughout the session. The price closed at CA$12.34, reflecting an 8.8% drop, marking the lowest intraday point. Early bullish momentum faded by mid-morning, forming a double-top pattern that signaled weakening support.
After 11:00 AM, the price went down, dropping to CA$ 12.20 at noon and fluctuating between CA$ 12.20 and CA$ 12.50 in the afternoon. A minor recovery after 2:00 PM briefly lifted the price to CA$12.60, but this proved unsustainable. Selling pressure intensified into the close, with no late-session rebound.
Technical signals revealed consistent lower highs and lower lows, underscoring bearish sentiment. The lack of support and sharp single-day drop point to short-term investor caution following the SEC announcement. Galaxy’s pending Nasdaq debut may reshape its performance trajectory if the shareholder vote clears on schedule.
