All articles tagged with #galaxy digital
Galaxy Digital's shares rose 10% after launching GalaxyOne, a Robinhood-like trading app offering commission-free trading of stocks, ETFs, and cryptocurrencies, along with yield-bearing accounts, aiming to compete in the digital assets space.
Solana has significantly outperformed Bitcoin and Ethereum this cycle, with Galaxy Digital investing $1.35 billion into SOL, leading to record TVL and increased social chatter, signaling strong institutional interest and a potential major shift in the crypto market.
President Donald Trump signed an executive order allowing cryptocurrencies to be included in 401(k) retirement plans, reflecting the growing institutional acceptance of digital assets. Meanwhile, companies like CleanSpark and Galaxy Digital reported strong financial results, highlighting the expanding influence and profitability of the crypto industry.
Bitcoin experienced significant volatility this week, with a sharp drop raising fears of a bubble burst, but recent large transactions and bullish predictions from industry insiders suggest a potential rally towards $130,000 or higher, amid ongoing market growth and regulatory optimism.
Bitcoin experienced a significant drop to $66,800, leading to the liquidation of over $100 million in long positions within 12 hours. El Salvador revealed that it holds a substantial $400 million worth of bitcoin in a cold wallet, surpassing previous estimates. Meanwhile, investment bank Stifel recommended Galaxy Digital as a core holding for equity investors seeking exposure to the digital asset ecosystem, citing its diverse revenue-producing businesses and growth potential.
Crypto fund Galaxy Digital predicts that spot bitcoin exchange-traded funds (ETFs) could attract $14.4 billion in inflows in their first year of issuance, potentially rising to $39 billion by the third year. Galaxy Digital believes that ETFs could be a more attractive investment option compared to existing products like trusts and futures. The U.S. wealth management industry is seen as the most addressable market for a Bitcoin ETF, with assets managed by broker-dealers, banks, and RIAs totaling $48.3 trillion. The demand for a Bitcoin ETF is high, as evidenced by recent price surges triggered by rumors and the discovery of BlackRock's proposed ETF. Galaxy Digital highlights the drawbacks of current investment products and suggests that a spot ETF could offer greater efficiencies in terms of fees, liquidity, and price tracking. Currently, there are 12 spot bitcoin ETFs under consideration by the SEC.