Galaxy Digital Acquires 2 Crypto Firms, Sees Big Wave of Institutional Demand...
Bitcoin Bull Michael Novogratz’s company, Galaxy Digital, has acquired two cryptocurrency firms in preparation to meet a “bigger wave of institutional demand” for bitcoin. Big Wave of Institutional Demand for Bitcoin Incoming Galaxy Digital Holdings announced Friday that it has acquired two cryptocurrency trading firms: Drawbridge Lending and Blue Fire Capital. New York City-headquartered crypto financial services and investment management company Galaxy Digital provides trading, asset management, and investment banking services. “Institutional investors and....
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It’s been a busy few months for crypto financial services firm Galaxy Digital. From sales to satoshis, the company has been making headlines. Galaxy Digital is fresh off the heels of acquiring digital assets infrastructure firm BitGo, and is one of four firms to lead a recent Canadian petition for an Ethereum ETF. Now, Galaxy […]
The investment company Galaxy Digital Holdings has revealed it is joining the growing list of firms looking to sponsor a bitcoin exchange-traded fund (ETF). Novogratz’s crypto firm applied with the U.S. Securities Exchange Commission (SEC) on Monday to launch a product called the “Galaxy Bitcoin ETF.” Galaxy Digital Wants to Provide a Bitcoin ETF Galaxy Digital Holdings (TSX: GLXY) filed a Form S-1 registration with the SEC on Monday in order to get approval for a new bitcoin ETF. The “Galaxy Bitcoin ETF” filing was submitted on April 12, 2021, and joins the....
Investment management firm State Street says that institutional clients are not deterred from investing in crypto assets despite price declines. “There is a belief that the asset class is here to stay,” a State Street executive said. State Street on Institutional Demand for Crypto State Street, a leading investment management firm, sees unwaning institutional demand for cryptocurrency despite market sell-offs, the Sydney Morning Herald reported Monday. Irfan Ahmad, State Street Digital’s product lead for the Asia-Pacific region, said the banking giant’s....
Jason Urban, co-head of Galaxy Digital Trading thinks institutional adoption of crypto is in its early days and predicts BTC is set to reach new all-time highs once the FUD dissipates. Senior traders from Galaxy Digital and Alameda Research are predicting the crypto market is set to recover once the recent wave of bad news stories subside.Markets have been in a downturn since mid-May, with Bitcoin (BTC) fluctuating between the low to mid $30K range. Speaking with streaming financial news provider Kitco News on June 24, Jason Urban, co-head of Trading at Galaxy Digital asserted that once....
Galaxy Digital reported a large uptick in trading volumes in the third quarter. Galaxy Digital’s over-the-counter trading desk posted record volumes in the third quarter, signaling once again that institutional uptake of digital assets is on the rise. The company’s third-quarter earnings report showed a 75% year-over-year rise in trading volumes, reaching approximately $1.4 billion. The increase was attributed to an expanding counterparty base, the rollout of an electronic trading platform and the continued growth of Galaxy Digital's crypto derivatives business. Assets under management....