Galaxy Digital (GLXY) Climbs 17.7% on Canada Delisting, Bitcoin Surge

Galaxy Digital Inc. (NASDAQ:GLXY) is one of the 10 Stocks Dominating Today's Market Action.

Galaxy Digital rebounded by 17.70 percent on Wednesday to finish at $24.34 apiece as investors shifted to its US shares following news that it would voluntarily delist from the Toronto Stock Exchange (TSX) this month.

In a statement, Galaxy Digital Inc. (NASDAQ:GLXY) said that its board of directors decided to delist the company from the TSX effective March 19, 2026, to focus on its Nasdaq listing, given that the majority of its average daily trading volume is executed on the Nasdaq and other US markets.

It said the initiative would also help cut additional expenses and administrative requirements associated with its dual listing.

Galaxy Digital Inc. (NASDAQ:GLXY) is not required to seek approval of its shareholders, given that an alternative market is available to trade its Class A common shares.

In relation to the delisting, Galaxy Digital Inc.’s (NASDAQ:GLXY) ongoing share buyback program for its Canadian shares will likewise cease on the delisting date, but repurchase transactions for shares on the Nasdaq would continue on a normal basis and would not exceed 5 percent of the outstanding Class A common stock at any time or within the 12-month period.

In other developments, the company rallied alongside its counterparts after Bitcoin surged by as much as 8 percent during the trading session.

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