Galaxy Digital Launches OTC Prediction Markets Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Source: Bloomberg
Galaxy Digital's stock rose by 5.02% as it crossed above the 5-day SMA, reflecting positive market reception to its new trading initiative.
The company has launched institutional OTC prediction markets trading through its Global Markets desk, allowing hedge funds and family offices to access liquidity at larger scales. This strategic expansion into event-driven markets includes a significant $10 million trade executed with crypto-native hedge fund Arca, focusing on the outcomes of the CLARITY ACT. This move not only enhances Arca's investment strategy but also showcases Galaxy's growing influence in the institutional market.
The launch is expected to attract more institutional capital into prediction markets, improving overall portfolio management efficiency and enhancing the effectiveness of these markets as signals for investors.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 28.410
Low
24.00
Averages
43.89
High
60.00
Current: 28.410
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. The Company's Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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