Galaxy Digital has launched a plan to tokenize its SEC-registered GLXY shares on a major blockchain. Starting today, shareholders can convert their shares into onchain tokens via Superstate’s Opening Bell platform. The tokens are available to KYC-approved investors and may trade in the future via AMMs and other DeFi platforms. Opening Bell, launched by Superstate in May, brings SEC-registered equities onchain, starting with Solana.https://t.co/Twr5zEMAAR ...

Core Insights - GameSquare Holdings, Inc. has made a strategic investment by purchasing a rare "Cowboy Ape" CryptoPunk NFT from Robert Leshner for $5.15 million in preferred stock, marking its first direct NFT investment [1][2][3] - The acquisition is part of GameSquare's blockchain-native brand and treasury strategy, which aims for annualized stablecoin returns of 6-10% [1][5] - GameSquare's Ethereum treasury holdings have increased to over $52 million, following a recent $10 million purchase of approximately 2,742.75 ETH [1][7] Investment Strategy - The NFT yield program targets an expected annualized return of 6-10% by leveraging digital assets within the Ethereum ecosystem [5] - GameSquare plans to utilize CryptoPunks for marketing, community building, and potential licensing opportunities, enhancing its Web3 strategy [5] - The company has formed strategic partnerships with leaders in the crypto space to manage and optimize its treasury management program [8] Asset Management - GameSquare's ETH-focused yield generation strategy is built on Dialectic's proprietary platform, aiming for onchain yields of 8-14%, significantly higher than current ETH staking benchmarks [9] - The company has authorized $250 million for its crypto treasury management strategy, with $45 million already invested in ETH [7][8] - Once fully implemented, capital generated from the yield strategy is expected to support additional ETH purchases or reinvest in growth initiatives [10] Leadership and Vision - Justin Kenna, CEO of GameSquare, expressed excitement about the NFT investment and the partnership with Robert Leshner, highlighting the company's forward-thinking strategy in onchain finance [2][3] - The acquisition of the CryptoPunk is seen as a strategic investment and a statement of intent regarding the long-term value of digital identity and decentralized ownership [4]