Galaxy Digital Reports Significant Sequential Growth Across Three Operating Units, Says Stifel Analyst

Galaxy Digital, a digital asset financial services firm, has shown significant growth across its three operating units due to improved crypto market conditions and anticipation of the approval of spot bitcoin exchange-traded funds. This strong performance is expected to continue into the current quarter as spot prices, volumes, and volatility remain elevated. Stifel Canada has a buy rating on the company and recommends it as a core holding for equity investors seeking exposure to the digital asset ecosystem. Despite trading 5% lower at the time of publication, the shares have risen over 30% year-to-date and Galaxy is expected to perform strongly for the full year 2024.