Galaxy Digital Holdings Ltd. GLXY founder and CEO Michael Novogratz announced that he expects the stock of his crypto merchant bank to land on a United States stock exchange in the first quarter of 2022.
What Happened: Novogratz wrote in Monday's Galaxy Digital press release that the firm looks "forward to our U.S. listing and the close of our BitGo acquisition, which we now expect will occur in the first quarter of 2022." The report follows a recent announcement by Galaxy Digital that as of the end of October the firm had $3.16 billion worth of assets under management.
According to a recent Bloomberg report, Novogratz said the United States Securities and Exchange Commission has not yet approved Galaxy Digital's potential listing on a United States stock exchange.
Galaxy Digital has also not yet concluded the acquisition of major cryptocurrency custodian BitGo, recognized as the first $1-billion deal in cryptocurrency in early May. The deal is expected to settle in the first three months of next year.
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