Galaxy Digital Holdings has secured approval to directly list on the Nasdaq stock exchange. The crypto conglomerate led by billionaire Michael Novogratz announced that the U.S. SEC has approved its registration, allowing it to move its operations from the Cayman Islands to Delaware. Trading will begin shortly after a special shareholder meeting scheduled for May 9. Pending approval from shareholders and the Toronto Stock Exchange, Galaxy Digital will trade under the ticker symbol GLXY. Direct Listing Marks a Key Milestone Having previously traded on the Toronto Stock Exchange, Galaxy Digital has long aimed to list on a U.S. exchange. The company, which provides a wide range of services, including trading and asset management, sees this move as a major step in its expansion. The decision to list on Nasdaq reflects the growing intersection of digital assets and artificial intelligence infrastructure, in which Galaxy seeks to drive innovation. Novogratz, Galaxy’s CEO and founder, emphasized the significance of this milestone for the company as it moves closer to completing the transaction within the current quarter. The listing marks a significant change for Galaxy Digital, which has been operating in Canada but has increasingly targeted the U.S. market. The direct listing on Nasdaq will allow it to raise its profile among American investors and further solidify its position in the evolving crypto sector. Galaxy’s future on the Toronto Stock Exchange remains intact, as the company plans to continue its listing in Canada. Galaxy Digital Settles Landmark Case In addition to its upcoming Nasdaq listing, Galaxy Digital has faced legal challenges related to its promotion of the now-defunct LUNA token. In March, the company agreed to pay a $200 million settlement over allegations that it offloaded its holdings of LUNA without proper disclosure.  According to the New York Attorney General’s Office, this violated anti-fraud laws. Galaxy and Novogratz played a key role in promoting the Terra ecosystem, which ultimately collapsed. The legal proceedings centered around Galaxy’s involvement in LUNA’s rise and fall.