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 mentioned Wednesday that its Class A typical shares, listed on each Nasdaq and the Toronto Inventory Change underneath the ticker GLXY, can now be tokenized and fractionalized on the Solana blockchain by Superstate’s Opening Bell, a platform for tokenizing public firms. 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 prompt report of possession onchain.
Galaxy first went public on the Toronto Inventory Change in 2018 and expanded to the Nasdaq International Choose Market earlier this yr. The corporate now carries a market capitalization of practically $9 billion.
Galaxy shares be part of dozens of different equities already accessible in tokenized kind. Backed Finance’s xStocks platform, for instance, has tokenized greater than 60 public firms on Solana, BNB Chain and Tron. A number of the largest names embody 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 actually accessible on Ethereum.
Associated: Traders might misunderstand tokenized shares: EU markets watchdog
RWA tokenization pattern expands to shares
Tokenization has accelerated sharply in 2025, with the market increasing 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 knowledge present that the entire worth of tokenized shares has reached about $341 million.
Nevertheless, some trade observers have raised issues about tokenized shares, arguing that the merchandise nonetheless function in a regulatory grey space.
“It’s essential to grasp that buyers don’t personal precise shares; they maintain tokens issued by intermediaries, which can entitle them to payouts if the underlying shares improve in worth or are offered,” John Murillo, chief enterprise officer at fintech agency B2BROKER, advised Cointelegraph.
Associated: Kraken met with SEC crypto activity drive to debate tokenization
