Galaxy Digital has announced plans to tokenize its GLXY stock through Superstate, a firm founded by Robert Leshner. The initiative, revealed in a filing on August 5, 2025, aims to make GLXY stock available to on-chain natives by 2025. Superstate will manage a whitelist of wallet addresses for trading and holding the tokenized stock, requiring KYC or accredited investor verification. Galaxy Digital, led by CEO Mike Novogratz, holds $9 billion in assets and recently executed a major OTC deal for 80,000 BTC. The firm's Q2 financial report disclosed a $299 million adjusted gross profit. The SEC has expressed support for on-chain finance, with Chair Paul Atkins highlighting growing interest in tokenization from various firms.