Share this article
Novogratz's Galaxy Digital Will Start Trading on a Stock Exchange This Week
Cryptocurrency merchant bank Galaxy Digital will begin trading on the Toronto TSX Venture Exchange this week.
Updated Sep 14, 2021, 1:53 p.m. Published Jul 30, 2018, 7:25 p.m.
Cryptocurrency merchant bank Galaxy Digital is set to trade on Toronto's TSX Venture Exchange on August 1, Bloomberg reported Monday.
The cryptocurrency merchant bank, which was first announced in January, received final approval from Canadian regulators to begin trading, founder and billionaire investor Michael Novogratz told BNN Bloomberg Toronto. He called the process to receive permission "frustrating," citing the time it took to receive this approval.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
He added:
"If I knew what I know now, knew the crypto markets were going to swoon as much, and it was going to take so long, I might have stayed private for another year or so and then gone public. But I don't think it's a mistake."
Galaxy Digital lost $134 million in the first quarter of 2018, largely due to declining cryptocurrency prices, the company announced in a quarterly earnings report last week, as CoinDesk previously reported.
The lengthy listing time came from the fact that Galaxy Digital chose to undergo a reverse takeover by merging with a TSX-listed shell company. Regulators examined the deal closely, going so far as to push back the final approval for listing from April to August, according to Bloomberg.
That being said, Novogratz believes cryptocurrency prices will rebound, predicting that bitcoin's price might soon see $10,000 again.
"I think we actually [are] in the bottom of the market. Part of this is the anticipation of an ETF that will hopefully get approved. If that ETF gets approved in a few weeks, we will go to $10,000. I don't think we get through $10,000 cause there is a big ceiling over there," he said.
Investors need more tools to trust the space before the price can go beyond $10,000, he said, explaining that "a lot of retailer investors got caught by bad prices last November and December."
"I don't think we will get through $10,000 until we get custody solutions announced implemented by trusted names," he added.
At the time of writing, Bitcoin is trading around the $8,000 mark, according to CoinDesk's Bitcoin Price Index.
Michael Novogratz mage via CoinDesk archives
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin heads for its worst Q4 since 2018 as traders see further fatigue
Data from CoinGlass shows bitcoin is down more than 22% so far in the fourth quarter, making 2025 one of the weakest year-end periods outside of major bear markets.
What to know:
- Bitcoin's price is nearing $90,000, offering a short-term boost to the crypto market, but analysts remain cautious about a significant recovery.
- The total crypto market capitalization has surpassed $3 trillion, yet analysts warn that the rebound may be driven by exhaustion rather than renewed confidence.
- Bitcoin remains about 30% below its 2025 peak, with the market still vulnerable to sharp reversals, particularly during U.S. trading hours.
Top Stories
