Galaxy Digital, the cryptocurrency funding agency based by Mike Novogratz, has tokenized its publicly traded inventory, positioning the shares to be used inside decentralized finance (DeFi) as institutional curiosity in tokenization grows.
The corporate stated Wednesday that its Class A standard shares, listed on each Nasdaq and the Toronto Inventory Alternate below the ticker GLXY, can now be tokenized and fractionalized on the Solana blockchain via Superstate’s Opening Bell, a platform for tokenizing public corporations. Superstate, a fintech agency, will act because the SEC-registered switch agent.
Not like artificial merchandise or derivatives, the initiative includes tokenizing Galaxy’s precise Class A shares. Trades executed on Opening Bell will generate an instantaneous document of possession onchain.
Galaxy first went public on the Toronto Inventory Alternate in 2018 and expanded to the Nasdaq Global Select Market earlier this yr. The corporate now carries a market capitalization of practically $9 billion.
Galaxy shares be a part of dozens of different equities already out there in tokenized type. Backed Finance’s xStocks platform, for instance, has tokenized more than 60 public companies on Solana, BNB Chain and Tron. A number of the largest names embrace tokenized Netflix, Meta Platforms and Nvidia, with the belongings tradable on exchanges like Kraken and Bybit, in addition to Solana-based decentralized exchanges.
On Tuesday, xStocks introduced that its tokenized fairness choices are now available on Ethereum.
Associated: Investors could misunderstand tokenized stocks: EU markets watchdog
RWA tokenization pattern expands to shares
Tokenization has accelerated sharply in 2025, with the market expanding 380% since 2022. A lot of the early momentum has been concentrated in personal credit score and US Treasury bonds, the place enticing yields and institutional demand have made tokenization particularly compelling.
Different asset courses like actual property and money-market funds have additionally featured prominently, as buyers sought onchain entry to historically illiquid or yield-bearing merchandise.
Now, the pattern is regularly extending into public equities. Trade information present that the whole worth of tokenized shares has reached about $341 million.
Nonetheless, some business observers have raised issues about tokenized shares, arguing that the merchandise still operate in a regulatory gray area.
“It’s essential to know that buyers don’t personal precise shares; they maintain tokens issued by intermediaries, which can entitle them to payouts if the underlying shares enhance in worth or are offered,” John Murillo, chief enterprise officer at fintech agency B2BROKER, instructed Cointelegraph.
Associated: Kraken met with SEC crypto task force to discuss tokenization
