Galaxy Digital Holdings, the crypto investment management company of Mike Novogratz, will not be registered in the US at the end of 2021 as the company previously planned.
The founder and CEO of Novogratz announced Monday that Galaxy Digital has postponed its plans to go public in the United States and is now awaiting listing in the first quarter of 2022.
“We look forward to our US listing and completion of the BitGo acquisition, which we expect to occur in the first quarter of 2022,” he said.
The US Securities and Exchange Commission has not yet approved a possible listing of Galaxy Digital on the US stock exchange, according to Galaxy.
Novogratz Crypto investment manager is still finalizing the acquisition of the custodian of BitGo cryptocurrency after the acquisition began earlier this year. The acquisition is expected to be completed within the first three months of 2022.
Galaxy Digital officially announced the company’s plans to go public in the US in May, and Novogratz expects the company to be registered in the US in the second half of 2021. The company did not immediately respond to Cointelegraph’s request for comment.
Galaxy Digital is one of the largest crypto investment companies in the world and is already listed on a major Canadian stock exchange. The company launched its first listing at TSX VC in Toronto in August 2018 after acquiring local crypto startup Coin Capital.
Thanks to trading below the GLXY index, Galaxy Digital shares have recently risen significantly, crossing the $40 mark for the first time last week. At the time of writing, the stock is trading at $41, up about 0.2% in the past 24 hours, according to TSX data.
Source: Toronto TSX Venture Exchange.
The news came on Monday when Galaxy Digital announced its third-quarter financial results. Total net revenue increased to $517 million from $42 million in the same period last year. Galaxy Digital also revealed that it has managed $3.2 billion in assets since October 2021.
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“As the crypto economy continues to evolve and adoption trends accelerate, driving up asset prices and more institutional capital in the space, I have never been more optimistic about the future of our company,” Novogratz added.