Source: Cointelegraph
Original: “Reports say Galaxy Digital lists on Nasdaq, seeks to tokenize shares”
According to CNBC, Galaxy Digital's stock began trading on the Nasdaq Stock Exchange on May 16, completing a years-long listing process. The company's CEO, Mike Novogratz, described the process as unfair and frustrating.
The cryptocurrency and infrastructure company is also listed on exchanges in Canada, with its initial trading opening price on Nasdaq set at $23.50.
On the same day trading began, Galaxy disclosed that it is working with the U.S. Securities and Exchange Commission (SEC) to tokenize its shares. According to Bloomberg, tokens representing Galaxy Digital shares could be used in decentralized finance applications, such as lending.
Galaxy is one of many crypto companies looking to enter the U.S. market under a more favorable regulatory environment. Other companies exploring or preparing for a U.S. listing include Metaplanet, Circle, Kraken, and Gemini. The trading platform eToro completed its listing on May 14.
According to data from its official website, the company has $7 billion in assets on its platform. In the first quarter of 2025, the company reported a loss of $295 million.
Tokenization of real-world assets (RWA) is gradually gaining attention in the crypto space, although its market share remains small. According to RWA.xyz, the industry's market value has reached $22.5 billion, accounting for only a small portion of the global value of real-world assets and major cryptocurrencies like Bitcoin (BTC). However, the sector is growing rapidly, with a 111.8% increase over the past year.
An emerging trend is the tokenization of securities, essentially converting assets like stocks and government bonds into tradable tokens on the blockchain. Robinhood is considering building a blockchain that would allow European retail investors to trade tokenized U.S. securities, such as stocks. Galaxy Digital plans to tokenize all types of assets, including stocks, fixed income, and even exchange-traded funds (ETFs).
At the SEC's crypto roundtable on May 12, Chairman Paul Atkins compared asset tokenization to the music industry's shift from analog to digital, believing it greatly enhances the development of the U.S. economy.
Former President Donald Trump's closer relationship with the industry has sparked new enthusiasm for domestic crypto activities. In addition to numerous companies preparing for public listings in the U.S., some other crypto firms have also announced their re-entry into the local market.
Related: Robinhood executive: Tokenization makes investing more accessible
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