Galaxy Digital Sees Assets Under Management Nearly Fall Below $2.0 Billion In May

Softness within the cryptocurrency market continues to hit Galaxy Digital Holdings (TSX: GLXY). The firm last night released its latest data on its assets under management, indicating that it may be able to hit a rather significant – but negative – milestone.

Total assets under management in the month of May fell to $2.016 billion, as the firm flirts with the prospect of falling under the $2.0 billion mark amid a decline in the crypto markets. The figure represents a decline of 17.9% on a month over month basis, falling from $2.457 billion at the end of April.

The AUM print is the lowest since July 2021, when the company last posted a sub-$2.0 billion figure.

Even more notably, the decline represents a tumble larger than that of bitcoin, which is effectively a barometer for the industry. Bitcoin declined 15.6% during the month of May, pointing to the problem likely being that of altcoins for Galaxy.

AUM figures are said to be presented on a preliminary basis.

Galaxy Digital Holdings last traded at $7.47 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

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

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

Hut 8 Secures US$20 Million Credit Facility Through Galaxy Digital

It appears that Hut 8 Mining (TSX: HUT) is attempting to use a digital currency...

Friday, April 30, 2021, 07:43:11 AM

Galaxy Digital Sees AUM Improve 3.7% In February

After two straight months of declines, it appears that Galaxy Digital Holdings (TSX: GLXY) has...

Friday, March 4, 2022, 07:58:59 AM

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 Sees BMO Lift Price Target To $35 After Q4 Results

On April 3rd, BMO raised Galaxy Digital Holdings’ (TSX: GLXY) 12-month price target from $32...

Wednesday, April 6, 2022, 05:03:00 PM