NEW YORK, March 5, 2026, 09:26 EST
- Galaxy Digital plans to delist its shares from the Toronto Stock Exchange on March 19. The stock isn’t going anywhere on Nasdaq—it stays put.
- The company’s Canadian share buyback is coming to a close with its TSX exit, but there’s still a chance for a small amount of repurchasing on Nasdaq.
- GLXY stock surged about 18% in premarket trading Thursday.
Galaxy Digital Inc is ditching its Toronto Stock Exchange listing, with the board approving a move to Nasdaq as the company’s only exchange. That takes effect after markets close March 19. Galaxy’s Canadian share buyback program ends with the delisting, but the company retains the ability to repurchase up to 5% of its shares through Nasdaq.
The decision lands as crypto-linked firms chase more U.S. liquidity and try to streamline their corporate setups. Dual listings rack up costs and force management to navigate a pair of exchange rulebooks—matters investors tend to overlook, unless something changes in the structure.
This goes beyond a simple branding change for stockholders. In February, Galaxy secured approval from the TSX to launch its “normal course issuer bid”—essentially a share buyback program in Canadian terms—letting the firm purchase up to 14.8 million shares, about 10% of the public float, over the next year. PR Newswire
Galaxy kicked off a $200 million share repurchase last month. Back then, CEO and founder Mike Novogratz pointed to their “strong balance sheet” and said, “We are entering 2026 from a position of strength,” as the firm kept channeling funds into growth. PR Newswire
Galaxy began trading on Nasdaq in May 2025, debuting at $23.50 a share, following a lengthy transition. During that stretch, it kept its listing on the Toronto exchange. With the planned TSX delisting, the company is set to complete its strategic pivot.
The company says it will remain a reporting issuer in Canada, meaning regular disclosures will keep flowing to satisfy Canadian securities laws. Shareholders holding shares through Canadian brokers are being told to reach out to their firms for specifics on trading the now-Nasdaq-listed stock.
Shares jumped close to 17.7% in premarket action, changing hands at $24.34 this Thursday.
Galaxy’s numbers have moved with crypto’s sharp swings. The firm booked a net loss of $482 million for the fourth quarter of 2025, as digital asset prices dropped, per its February earnings release.
Coinbase’s listing remains strictly U.S.-only, just like most bitcoin miners touting that “infrastructure” story — you’ll only find those tickers on American exchanges. This step puts Galaxy directly in that same crowd.
Even so, this shift might squeeze Canadian investors loyal to the TSX, or hit walls with broker limitations—even though the company insists Nasdaq access is widespread. The buyback isn’t automatic; repurchases could slow or be put on hold. As for the shares, they remain exposed to sharp crypto volatility, plus whatever happens with Galaxy’s data-center project in Texas.
