Galaxy Digital, the cryptocurrency investment firm led by Mike Novogratz, has tokenized its Class A common shares on the Solana blockchain. The shares trade on the Nasdaq and the Toronto Stock Exchange under ticker GLXY. The tokenization process is taking place on Superstate’s Opening Bell platform, which is designed for public company shares.
The company explained that the initiative tokenizes its actual shares and not synthetic assets or derivatives. Each trade on Opening Bell creates an instant onchain ownership record. Superstate, registered with the U.S. Securities and Exchange Commission (SEC), will serve as transfer agent for the tokenized shares.
Galaxy Digital became a public company on the Toronto Stock Exchange in 2018 and later joined the Nasdaq Global Select Market in 2024. Its market capitalization is currently about $9 billion.
Tokenized Stocks on Solana and Other Blockchains
The Galaxy Digital stock tokenization is part of a wider trend of tokenized stocks across blockchain platforms. The xStocks platform by Backed Finance has already tokenized more than 60 public companies on Solana, BNB Chain, and Tron. Among them are Netflix, Meta Platforms, and Nvidia, available for trading on centralized exchanges like Kraken and Bybit, as well as on decentralized exchanges on Solana.
On Tuesday, xStocks announced that its tokenized equity offerings are also available on Ethereum, showing how tokenized equities are being deployed on multiple networks. The addition of Galaxy Digital stock tokenization makes Galaxy one of the first Nasdaq-listed firms to place its shares in tokenized form.
RWA Tokenization Growth Extends to Stocks
The RWA tokenization market has grown by 380% since 2022, according to industry data. Most growth has been in private credit and U.S. Treasury bonds, where institutional demand and yields have supported tokenization. Other areas include real estate and money-market funds, which have been moved onchain to provide access to traditionally less liquid assets.
In 2025, tokenization has extended into public equities. The total value of tokenized stocks is now estimated at $341 million, based on figures from RWA.xyz. The number highlights growth in the sector even if it remains small compared with traditional equity markets.
At the same time, observers have noted that tokenized stocks still operate in a regulatory gray area. The role of SEC-registered transfer agents such as Superstate shows how tokenization is linking traditional financial regulation with blockchain-based records.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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