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Mike Novogratz’s Bitcoin Investment Firm Announces Conditional Approval for Listing on Toronto Stock Exchange

Mike Novogratz’s Bitcoin Investment Firm Announces Conditional Approval for Listing on Toronto Stock Exchange

Leading cryptocurrency and digital asset firm Galaxy Digital has announced its conditional approval to be listed on the Toronto Stock Exchange (TSX). The crypto merchant bank, led by founder and chief executive Mike Novogratz, plans to announce a listing date later this quarter, subject to compliance with the requirements of the TSX conditional approval.
TSX is the ninth largest exchange in the world by market capitalization. The exchange has tapped Galaxy Digital to participate in its TSX Sandbox, an initiative designed to help firms “that may not satisfy the original listing requirements.”
The New York-based firm, which has one of the largest trading desks for cryptocurrencies in the US, is targeting a wider range of investors as interest in digital assets continues to climb.
By allowing Galaxy Digital to participate in the sandbox, the Canadian exchange has waived its regular listing requirement of $10 million CAD in treasury resulting from public raise, according to a press release , to support the firm’s expansion.

According to Christopher Ferraro, the firm’s president,
“Our trading desk executed approximately US $1 billion of total volume in the most recent quarter, including flows from significant new hedge fund counterparties moving into crypto, while our asset management business continues to see strong fund inflows to its Bitcoin Fund, and our advisory business is building on its recently completed transactions with a range of new M&A and financing mandates.”
Galaxy Digital has a core Bitcoin position of roughly 13,000 BTC, worth over $110 million, in addition to an extensive portfolio of venture equity and credit investments in the sector.
Ferraro adds ,
“As important as the progress of our operating businesses, Galaxy continues to have high conviction in bitcoin, reflected in our core balance sheet holding of that asset. We look forward to continuing to help bring institutions into the digital asset ecosystem, especially in the face of unprecedented monetary and fiscal actions globally.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Matt Vyc
The post Mike Novogratz’s Bitcoin Investment Firm Announces Conditional Approval for Listing on Toronto Stock Exchange appeared first on The Daily Hodl .

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