Galaxy Digital Inc. announced that it will voluntarily delist its Class A common stock from the Toronto Stock Exchange (TSX) effective March 19 2026, while continuing to trade on the Nasdaq Stock Market under the ticker GLXY. The decision follows the company’s assessment that the majority of its average daily trading volume is on U.S. exchanges and that the costs and administrative burdens of maintaining a dual listing outweigh the benefits.
The company said the move will reduce compliance and reporting expenses and streamline shareholder services. Galaxy will remain a reporting issuer in Canada and will continue to provide full disclosure under Canadian securities law, ensuring that Canadian investors still receive timely information.
Shareholders holding shares in Canadian brokerage accounts will need to confirm how to trade the shares on Nasdaq. The normal course issuer bid (NCIB) through TSX facilities will end on the delisting date, but Galaxy may continue share repurchases on Nasdaq subject to a 5% limit of outstanding shares.
Galaxy Digital operates through Digital Assets and Data Centers segments. In Q4 2025, the company posted a net loss of $482 million and a full‑year loss of $241 million, driven by a decline in digital asset prices and one‑time costs. Despite the losses, the company reported $3.0 billion in equity and $2.6 billion in cash and stablecoin holdings as of December 31, 2025, underscoring its liquidity position.
The delisting reflects a strategic pivot to focus resources on its primary U.S. market and to capitalize on the higher liquidity and lower regulatory burden of Nasdaq. By consolidating its listing, Galaxy aims to improve operational efficiency and provide clearer price discovery for investors.
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