Galaxy Digital Sees Assets Under Management Decline 3.8% In September

Galaxy Digital (TSX: GLXY) appears to have hit a short term top in terms of its assets under management. The firm this morning reported its preliminary results for the month of September, and in short – the company appears to have flatlined.

Assets under management for the month of September came in at $1,985.2 million, a mild 3.8% decline over the month of August, which saw AUM close out the month at $2,063.8 million. The figures are unaudited, and are said to include certain closed end vehicles, seed investments, fund of fund productions, and sub-advised funds. The figure also includes best-estimates by management for certain vehicles.

As a comparison, the price of bitcoin during the month of September declined by 3.16%, falling from $20,049 to $19,425. The results demonstrate that the firms assets under management largely mirror that of the move in bitcoin.

READ: Galaxy Digital: BMO Cuts Price Target To $14 After BitGo Purchase Falls Apart

The decline in AUM was reportedly driven by market depreciation, which was offset partially by net inflows.

Galaxy Digital last traded at $7.05 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Galaxy Digital: BMO Anticipates Contagion From FTX To Impact Firm

As crypto is facing its own Leman Brothers’ moment, with the third largest exchange stopping...

Sunday, November 13, 2022, 05:27:00 PM

Galaxy Digital Reports $3.42 Billion Assets Under Management

Galaxy Digital Holdings Ltd. (TSX: GLXY) announced today preliminary details related to its affiliate, Galaxy...

Friday, December 3, 2021, 09:22:00 AM

Galaxy Digital: BMO Raises Concerns Related To Transition To US GAAP

Galaxy Digital (TSX: GLXY) filed their S-4 in respect to their acquisition of Bitgo Holdings...

Wednesday, February 23, 2022, 03:43:00 PM

Bitcoins Tumble Forces Bitfarms To Sell BTC To Meet Collateral Requirements

At least one cryptocurrency miner is feeling the impact of falling market sentiment, and as...

Friday, June 17, 2022, 03:31:00 PM

Galaxy Digital Wins GK8 Auction At A 60% Discount From Celsius Bankruptcy

Galaxy Digital Holdings Ltd. (TSX: GLXY) announced Friday that it has won an auction to...

Monday, December 5, 2022, 11:14:00 AM