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 typical shares, listed on each Nasdaq and the Toronto Inventory Alternate beneath 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 entails tokenizing Galaxy’s precise Class A shares. Trades executed on Opening Bell will generate an immediate report of possession onchain.
Galaxy first went public on the Toronto Inventory Alternate in 2018 and expanded to the Nasdaq International Choose Market earlier this 12 months. The corporate now carries a market capitalization of almost $9 billion.
Galaxy shares be a part of dozens of different equities already accessible in tokenized type. Backed Finance’s xStocks platform, for instance, has tokenized greater than 60 public corporations on Solana, BNB Chain and Tron. A number of the greatest names embody tokenized Netflix, Meta Platforms and Nvidia, with the property tradable on exchanges like Kraken and Bybit, in addition to Solana-based decentralized exchanges.
On Tuesday, xStocks introduced that its tokenized fairness choices at the moment are accessible on Ethereum.
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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 non-public 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 traders sought onchain entry to historically illiquid or yield-bearing merchandise.
Now, the pattern is steadily extending into public equities. Business knowledge present that the entire worth of tokenized shares has reached about $341 million.
Nevertheless, some business observers have raised issues about tokenized shares, arguing that the merchandise nonetheless function in a regulatory grey space.
“It’s essential to know that traders 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 bought,” John Murillo, chief enterprise officer at fintech agency B2BROKER, instructed Cointelegraph.
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