Galaxy Digital's move to list on Nasdaq will boost liquidity for its stock, analyst says

Galaxy Digital's move to file a Form S-4 registration statement with the Securities and Exchange Commission is the next step toward redomiciling in the U.S. and listing its shares on the Nasdaq, BTIG analyst Mark Palmer, who rates BRPHF stock as a Buy, wrote in a note to clients. Despite "rapid growth" of the crypto platform, Galaxy Digital's (OTCPK:BRPHF) stock's trading volumes have been lower than those of other digital asset firms, including bitcoin miners, Palmer noted. Moreover, "the move to Nasdaq will not only boost the liquidity of GLXY’s shares, but also could attract more sell-side research coverage of the stock, which would help to put a spotlight on its leading position in the digital assets space," Palmer added. At the same time, the company's move to redomicile to Delaware from the Cayman Islands is a condition precedent for the closing of its BitGo acquisition. Previously, (Dec. 23, 2021)