What is Formula Growth's new investment in Galaxy Digital?

Formula Growth acquired 139,195 shares of Galaxy Digital, valued at approximately $4.71 million, establishing a new position.

How has Galaxy Digital performed recently?

Galaxy Digital's stock has underperformed the S&P 500 over the past year and recently dropped nearly 40% from late October.

What are Galaxy Digital's key business areas?

Galaxy Digital offers digital asset trading, asset management, lending, capital markets advisory, and blockchain infrastructure solutions.

Home / Business and Economy / Formula Growth Buys $4.7M Stake in Galaxy Digital

Formula Growth Buys $4.7M Stake in Galaxy Digital

21 Dec, 2025

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Summary

Formula Growth acquired 139,195 shares of Galaxy Digital.
The new stake is valued at approximately $4.71 million.
Galaxy Digital's stock has underperformed the S&P 500 over the past year.

Formula Growth Buys $4.7M Stake in Galaxy Digital

Montreal-based Formula Growth recently disclosed a significant investment in Galaxy Digital (NASDAQ:GLXY), acquiring 139,195 shares valued at approximately $4.71 million. This new holding constitutes about 1.67% of the fund's reportable U.S. equity assets, aligning with the fund's strategy of maintaining modest individual positions. The investment comes as Galaxy Digital's stock has faced pressure, dropping nearly 40% from late October following a substantial exchangeable notes offering.

Despite share price volatility and underperformance relative to the S&P 500 over the past year, Galaxy Digital demonstrated strong financial performance in the third quarter. The company reported a net income of $505 million and adjusted EBITDA of $629 million, driven by robust trading activity and investment gains. Its balance sheet remains liquid, boasting $1.9 billion in cash and stablecoins, with total equity at $3.2 billion at quarter-end.