Galaxy Digital began trading on the Nasdaq on May 16, 2025, after a challenging Q1 which resulted in a $295 million loss. The company opened at $23.50 per share. On the same day, Galaxy announced its collaboration with the SEC to tokenize its shares, potentially enabling their use in decentralized finance applications such as lending and borrowing. As a part of a growing movement, Galaxy joins other crypto firms exploring U.S. market listings amid a changing regulatory landscape. Tokenization, particularly of real-world assets, is gaining popularity despite representing a small market share, with a significant 111.8% growth in the last year. This includes interest in tokenizing various assets, from stocks to fixed income. SEC Chair Paul Atkins recently compared asset tokenization to the transition from analog to digital in the music industry, indicating vast potential benefits for the economy. Enthusiasm for these developments has increased, partly due to improved industry relationships with the government.

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