Digital asset management firm Galaxy Digital says it’s preparing for an incoming barrage of institutional interest in the digital asset sector.
In its Q3 report released Friday, Galaxy Digital founder and CEO Michael Novogratz says the New York-based firm is gearing up for what it projects will be another busy year.
“We’ve taken several key steps forward in the second half of 2020, including making critical senior hires, expanding our capital base, and completing strategic actions to position Galaxy Digital for the clear, incoming wave of institutional adoption ahead of digital assets and blockchain solutions by investors, corporates and governments.”
According to the report, Galaxy Digital’s trading branch had its best quarter to date hosting $1.4 billion in trading volume in the three-month period, representing a year-over-year increase of 75%.
As of September 30th, Galaxy Digital’s asset management branch has $407.4 million worth of assets under management (AUM), $82.4 million of which is