Galaxy’s Nasdaq Debut Clears the Path for Canada-US Listings

Galaxy Digital Inc.’s US debut is a homecoming for the Toronto Stock Exchange-listed, New York-based company. For Canadian firms on the TSX, it could be the start of reversing a multi-year trend of domestic firms choosing to trade closer to where they’re based.

The crypto company led by billionaire Michael Novogratz raised $600 million in an upsized US share sale announced days after it began trading on the Nasdaq May 16. Following Galaxy’s successful outing, bankers are seeing more interest from TSX-traded companies in adding US listings.

“I can definitely say that I’ve had more discussions in the last ...