Billionaire Norvoglatz's cryptocurrency group Galaxy Digital (GLXY.US) has been granted direct listing approval on NASDAQ.

Billionaire Michael Novogratz's cryptocurrency group Galaxy Digital Holdings Ltd announced on Monday that it has received approval to be listed directly on the NASDAQ stock exchange, and is expected to begin trading shortly after the special shareholders meeting. The special shareholders meeting approving this restructuring will be held on May 9. Pending shareholder approval and approval from the Toronto Stock Exchange, Galaxy Digital is expected to be listed on the NASDAQ under the ticker symbol GLXY. In a press release, the company announced that the U.S. Securities and Exchange Commission has approved its registration application to relocate from the Cayman Islands to Delaware and list on the NASDAQ. Galaxy Digital provides a range of services including trading and asset management. The company is currently listed on the Canadian market and has been seeking a listing on the U.S. stock market for years. After landing on the NASDAQ, the company will continue to be listed on the Toronto Stock Exchange. Galaxy Digital is one of many cryptocurrency companies attempting to list in the U.S. through direct listing or Initial Public Offering (IPO). However, the process has been difficult under President Joe Biden's strict regulation of cryptocurrencies. Many companies launched their listing plans after Donald Trump became president, but the recent market turmoil caused by Trump's tariff policies has dampened the IPO market. Trading platform eToro has suspended its preparations for an IPO.