Recently, Galaxy Digital, a notable player in the cryptocurrency space, published its Q2 earnings report, shedding light on its current asset distribution. The firm strategically expanded its holdings in Bitcoin while diminishing its investments in Ethereum and XRP.
Galaxy Digital Adjusts Portfolio: More Bitcoin, Less Ethereum and XRP
According to Galaxy Digital’s Q2 SEC filing, the company’s Bitcoin holdings surged to a total of 17,102 BTC, a significant rise from 12,830 BTC reported in the previous quarter. This decisive move indicates a growing confidence in Bitcoin’s market potential. Conversely, Ethereum and XRP holdings were reduced, suggesting a strategic shift in investment focus.
Analysis of Q2 Report
As it stands, Galaxy Digital holds 90,521 ETH, a sharp decrease from the 155,026 ETH accumulated in Q1. Additionally, the firm’s XRP assets also declined, now totaling 15.38 million coins, down from 16.9 million earlier this year. While Bitcoin remains a focal point for the firm, it still retains various other digital assets in its portfolio.
For further insights: Finance experts caution about a possible economic downturn, raising the question: Is Bitcoin a safe haven?
Insights from Q1 Report
In its Q2 disclosures, Galaxy Digital’s holdings of USDC have also seen a substantial drop, from 426 million in Q1 to 263 million in Q2. On a more positive note, the company has amplified its investments in SOL and USDG, growing from 955,072 SOL and 30.5 million USDG in Q1 to 1 million SOL and 47.1 million USDG now.
Interestingly, Galaxy Digital divested its 12 million SUI holdings from Q1 while acquiring 2.3 million HYPE in the second quarter. Presently, Bitcoin, USDC, and Ethereum stand as the company’s most robust crypto positions, while XRP lags significantly at a valuation of approximately $34.4 million, contributing to a total crypto portfolio worth about $3.5 billion.
Based on Q2 figures, Galaxy Digital ranks as the eighth-largest public company in terms of Bitcoin treasury. CEO Mike Novogratz continues to show optimism regarding BTC, forecasting a potential price surge to $800,000 within the next decade.
Exploring Tokenization of Common Stock
In its latest SEC filings, Galaxy Digital disclosed plans to explore the tokenization of its Class A common stock. This innovative approach could introduce various market implications, particularly concerning the trading price and associated risks.
Aligning with this initiative, the company has engaged with Superstate Services, signed on May 20, 2025, as its designated digital asset transfer agent. Under this partnership, the tokenization platform is set to develop and manage an Allowlist consisting of wallet addresses for investors who fulfill onboarding criteria. Only approved investors will have the privilege to retain, transfer, and facilitate transactions involving Tokenized Galaxy stocks.
