Mike Novogratz’s Galaxy Digital Eyes U.S. Comeback with Nasdaq Listing

The firm, led by Mike Novogratz, plans to reorganize under Delaware jurisdiction, with a final vote set for May 9. If approved, trading could begin as early as May 16, pending Nasdaq’s confirmation.

The move is framed as a key milestone in Galaxy’s evolution, with Novogratz stating that a Nasdaq listing would help position the company at the forefront of digital asset and AI investment infrastructure. It also aligns with a broader trend: crypto firms are increasingly returning to U.S. markets amid signals of a more favorable regulatory climate.

Crypto analyst Eleanor Terrett sees Galaxy’s push as part of a larger “repatriation” of digital asset companies back to the U.S., following years of regulatory uncertainty. Firms like Bithumb, eToro, Circle, and Gemini are reportedly exploring similar IPO or listing routes through 2025.

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While pursuing its public market ambitions, Galaxy has been repositioning its digital asset portfolio. On-chain data shows the company shifting out of Ethereum and into Solana, with sizable transfers occurring on Binance. Shortly after these moves, Galaxy deposited nearly 24,000 ETH to Coinbase—fueling speculation about another large selloff.

This activity follows a $200 million settlement with the New York Attorney General over its past involvement with LUNA tokens, as the firm continues to tighten regulatory compliance ahead of its planned listing.

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