- Galaxy Digital’s net income jumped 40%, with the same attributed to spot Bitcoin ETFs’ impact
- Galaxy Trading also saw a hike in revenue and volumes
Galaxy Digital Holdings Ltd. has emerged as a significant player in the financial realm after seeing a surge in net income by 40% to $422 million. Interestingly, analysts are attributing this growth to the impact of spot Bitcoin [BTC] Exchange Traded Funds (ETFs).
In fact, the upward trajectory coincided with a notable resurgence in net inflows observed in spot Bitcoin ETFs on 14 May, following four consecutive weeks of outflows. According to reports, there were total inflows of $116.8 million last week, indicating renewed interest among investors.
Good day for Bitcoin
These inflows might have had an impact on the price action of Bitcoin too. After flashing all reds over the past week, Bitcoin, at press time, was recovering on the charts following a 6% hike in 24 hours.
The same was confirmed by the Relative Strength Index climbing close to the 50-level on the charts.
Providing further insights into Galaxy Digital’s Q1 results, analyst Joseph Vafi noted,
“Spot bitcoin ETF approvals have been a major catalyst for the increase in counterparty engagement as some of the more traditional asset managers and hedge funds are entering/reentering the space.”
According to the firm’s first-quarter report,
“Trading reported counterparty trading revenue of $66 million in the first quarter, primarily driven by increased revenue from derivatives and favorable asset price movements.”
Galaxy Digital’s Q1 report
The report further claimed that counterparty trading volumes appreciated by 78%, compared to the prior quarter. This, while the average loan book size expanded to $664 million.
This underlines the increasing importance of platforms like Galaxy Trading in facilitating digital asset exchange and investment.
Additionally, Galaxy posted a record Bitcoin mining revenue of $31.5 million, a 69% hike from the previous quarter.
Source: Alyssa Choo/X
Here, it’s worth noting that the company mined 373 bitcoins at an average cost of less than $19,500 per Bitcoin, highlighting its efficiency in its mining processes.
Remarking on the same, Mike Novogratz, CEO of Galaxy Digital Holdings Ltd, said,
“Our first-quarter results underscore the strength and resilience of our business model.”
In conclusion, while optimism prevails, market uncertainties remain unpredictable. However, the launch of the Invesco Galaxy Bitcoin ETF, along with two new XTrackers Exchange Traded Commodities in partnership with DWS Group, paints a promising path forward for the firm.
- Galaxy Digital’s net income jumped 40%, with the same attributed to spot Bitcoin ETFs’ impact
- Galaxy Trading also saw a hike in revenue and volumes
Galaxy Digital Holdings Ltd. has emerged as a significant player in the financial realm after seeing a surge in net income by 40% to $422 million. Interestingly, analysts are attributing this growth to the impact of spot Bitcoin [BTC] Exchange Traded Funds (ETFs).
In fact, the upward trajectory coincided with a notable resurgence in net inflows observed in spot Bitcoin ETFs on 14 May, following four consecutive weeks of outflows. According to reports, there were total inflows of $116.8 million last week, indicating renewed interest among investors.
Good day for Bitcoin
These inflows might have had an impact on the price action of Bitcoin too. After flashing all reds over the past week, Bitcoin, at press time, was recovering on the charts following a 6% hike in 24 hours.
The same was confirmed by the Relative Strength Index climbing close to the 50-level on the charts.
Providing further insights into Galaxy Digital’s Q1 results, analyst Joseph Vafi noted,
“Spot bitcoin ETF approvals have been a major catalyst for the increase in counterparty engagement as some of the more traditional asset managers and hedge funds are entering/reentering the space.”
According to the firm’s first-quarter report,
“Trading reported counterparty trading revenue of $66 million in the first quarter, primarily driven by increased revenue from derivatives and favorable asset price movements.”
Galaxy Digital’s Q1 report
The report further claimed that counterparty trading volumes appreciated by 78%, compared to the prior quarter. This, while the average loan book size expanded to $664 million.
This underlines the increasing importance of platforms like Galaxy Trading in facilitating digital asset exchange and investment.
Additionally, Galaxy posted a record Bitcoin mining revenue of $31.5 million, a 69% hike from the previous quarter.
Source: Alyssa Choo/X
Here, it’s worth noting that the company mined 373 bitcoins at an average cost of less than $19,500 per Bitcoin, highlighting its efficiency in its mining processes.
Remarking on the same, Mike Novogratz, CEO of Galaxy Digital Holdings Ltd, said,
“Our first-quarter results underscore the strength and resilience of our business model.”
In conclusion, while optimism prevails, market uncertainties remain unpredictable. However, the launch of the Invesco Galaxy Bitcoin ETF, along with two new XTrackers Exchange Traded Commodities in partnership with DWS Group, paints a promising path forward for the firm.
how to get clomid pill can i buy generic clomid tablets how to get clomid no prescription order cheap clomiphene no prescription buying cheap clomid without prescription cost of generic clomiphene without a prescription can you buy cheap clomiphene online
I’ll certainly return to review more.
Thanks on putting this up. It’s well done.
zithromax 250mg canada – buy tinidazole pills order flagyl 200mg without prescription
buy semaglutide – rybelsus over the counter order generic periactin 4mg
buy motilium 10mg pills – flexeril brand flexeril canada
propranolol ca – methotrexate 5mg for sale order methotrexate 5mg online
amoxicillin online – buy combivent 100mcg online buy generic combivent over the counter
augmentin online – atbioinfo ampicillin order
buy esomeprazole 40mg – anexamate oral nexium 20mg
buy coumadin without a prescription – anticoagulant hyzaar cheap
meloxicam 15mg over the counter – https://moboxsin.com/ buy meloxicam cheap
order prednisone 5mg pill – https://apreplson.com/ buy deltasone 40mg
buy erectile dysfunction pills – https://fastedtotake.com/ men’s ed pills
buy amoxicillin no prescription – https://combamoxi.com/ buy amoxicillin cheap
diflucan uk – buy forcan pill purchase forcan pill
buy cenforce 50mg without prescription – https://cenforcers.com/ cenforce price
tadalafil citrate powder – https://ciltadgn.com/ generic tadalafil in us
buy zantac 150mg online cheap – https://aranitidine.com/ zantac for sale online
cialis stopped working – https://strongtadafl.com/ cialis professional vs cialis super active
The thoroughness in this section is noteworthy. where to buy nolvadex without a prescription
viagra sale canada – this 50 or 100mg viagra
This website exceedingly has all of the tidings and facts I needed there this thesis and didn’t positive who to ask. neurontin price
More posts like this would make the blogosphere more useful. https://ursxdol.com/azithromycin-pill-online/
This website positively has all of the bumf and facts I needed about this case and didn’t positive who to ask. https://prohnrg.com/product/omeprazole-20-mg/