Cryptocurrencies
Novogratz’s Galaxy Digital Expects U.S. Stock Listing in First Quarter
- Crypto firm had estimated it would gain listing this quarter
- Galaxy managed about $3.2 billion in assets at end of October
Michael Novogratz
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Galaxy Digital Holdings Ltd., the cryptocurrency firm controlled by billionaire Michael Novogratz, expects to be listed on a U.S. exchange in the first quarter of next year, later than initially estimated.
The New York-based company did a reverse takeover of an inactive firm in 2018 so it could trade on the Toronto Stock Exchange. It had hoped to become a U.S. public company in the fourth quarter. The U.S. Securities and Exchange Commission has to sign off on any listing on an American exchange. The purchase of crypto custodian BitGo is also expected to close in the first three months of next year, Galaxy said in a statement Monday.