Galaxy Digital Sees AUM Drop At Least 15% During Month Of June

Galaxy Digital (TSX: GLXY) appears to be weathering the current downturn in the crypto markets better than most. The firm last night published preliminary data on its assets under management for the month of June, and relative to some of its peers whom have gone belly up, they appear to be in a relatively decent position.

Assets under management at Galaxy fell over the course of the month, dropping to the lowest level seen in close to a year. AUM as of June 30 sat at $1,695.9 million on an unaudited preliminary basis.

The figure represents a 15.8% decline on a month over month basis. Comparatively, bitcoin declined a whopping 37.3% during the month of June – meaning Galaxy’s AUM performed rather well on a relative basis. AUM on a year to date basis meanwhile has declined 41.1%, versus bitcoin’s decline of 54.8%.

There is, however, a slight catch to the data for the month of June. The company has now started including AUM associated with the Galaxy EOS VC Fund LP in its figures, which is based on net asset value. That net asset value however is as of March 31, 2022, when the latest available NAV of the portfolio is reportedly available – and when the crypto market was in a substantially stronger position, meaning the data for the month of June could be heavily skewed, and is not exactly comparable to the prior preliminary results provided by the company.

Galaxy Digital last traded at $5.64 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.

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