Share this article
Galaxy Digital Q1 AUM Rose 58%, Net Comprehensive Income More Than Doubles
Galaxy Digital said in March, Morgan Stanley began offering its wealth management clients access to a number of its bitcoin funds.
Updated Sep 14, 2021, 12:56 p.m. Published May 17, 2021, 3:58 p.m.
Galaxy Digital, the cryptocurrency-focused financial services firm run by Michael Novogratz, says its assets under management (AUM) increased 58% in Q1.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In an announcement Monday, the Toronto Stock Exchange-listed company reported its net comprehensive income grew to $860 million from $336 million in the year-earlier quarter. The firm’s counterparty loan originations increased over 510%.
On May 6, Galaxy Digital announced an agreement to buy BitGo, the U.S.-regulated crypto custody specialist, for $1.2 billion in stock and cash. The acquisition is expected to close in the Q4, subject to approval by regulators and the firm’s shareholders.
"Beyond delivering dramatic organic growth, we announced we will acquire BitGo, which will establish Galaxy Digital as the first full-service digital asset financial platform for institutions and ensure our business is aligned with broader institutional adoption," said Novogratz, the Galaxy CEO, in a statement.
Net realized gains from investments were $151.1 million in the quarter. Income from the company’s trading business was $508.7 million in Q1, up from a loss of $31.5 million in the year-earlier period.
The firm said its asset management arm, Galaxy Digital Asset Management, reported total AUM of $1.27 billion at March 31, consisting of $950.0 million in GDAM's Galaxy Fund Management products, and $325.0 million in the Galaxy Interactive fund.
Read more: Galaxy Digital to Buy BitGo for About $1.2B in Stock, Cash
Recently the firm launched the CI Galaxy Bitcoin ETF (TSX: BTCX) on the Toronto Stock Exchange and the Galaxy Ethereum Funds. Galaxy Digital announced in March Morgan Stanley began offering its wealth management clients access to a number of its bitcoin funds.
The company also said it has appointed Erin Brown as its chief operating officer effective immediately. Previously, Brown was chief risk officer at the proprietary trading firm Jump Trading.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin eyes longest daily winning streak in 3 months
Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
What to know:
- Bitcoin rose over 1% during Monday's Asian trading session, marking a potential five-day winning streak.
- The broader crypto market, including major cryptocurrencies like XRP, solana, and ether, also saw gains of up to 1%.
- Tax-loss selling has subsided, one analyst said explaining the upswing, while others attributed the uptick to haven demand.
Top Stories
