This Crypto Stock Fell 40% in Weeks but One Investor Has Revealed a New $4.7 Million Bet

2 hours ago 2

Jonathan Ponciano, The Motley Fool

Sat, December 20, 2025 astatine 3:49 PM CST 5 min read

Montreal-based Formula Growth initiated a involvement successful Galaxy Digital during the 3rd quarter, acquiring 139,195 shares.
The presumption was worthy astir $4.7 cardinal arsenic of September 30.
GLXY is not among the fund’s apical 5 holdings by presumption size.
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On November 13, Montreal-based Formula Growth disclosed a caller presumption successful Galaxy Digital (NASDAQ:GLXY), acquiring 139,195 shares valued astatine astir $4.71 million.

According to a Securities and Exchange Commission (SEC) filing dated November 13, Formula Growth established a caller presumption successful Galaxy Digital (NASDAQ:GLXY), purchasing 139,195 shares. The involvement is valued astatine astir $4.71 cardinal astatine the extremity of the reporting period. The caller holding represents astir 1.67% of the fund’s astir $281.08 cardinal successful reportable U.S. equity assets.

Top 5 holdings aft the filing:

NASDAQ: SWIM: $7.53 cardinal (2.7% of AUM)
NYSE: JHX: $7.24 cardinal (2.6% of AUM)
NASDAQ: TEAM: $6.39 cardinal (2.3% of AUM)
NASDAQ: SSYS: $6.38 cardinal (2.3% of AUM)
NASDAQ: MU: $6.36 cardinal (2.3% of AUM)

As of Friday, shares of Galaxy Digital were priced astatine $24, up conscionable 2% implicit the past twelvemonth and good underperforming the S&P 500, which is up 16.5% successful the aforesaid period.

Metric

Value

Price (as of marketplace adjacent Friday)	$24.00
Market Capitalization	$9.7 billion
Revenue (TTM)	$23.3 billion
Net Income (TTM)	($230.9 million)

Galaxy Digital offers integer plus trading, derivatives, structured products, lending, superior markets, M&A advisory, plus management, bitcoin mining, and validator services.
The institution generates gross done trading fees, plus management, financing, advisory services, and exertion solutions for integer assets and blockchain infrastructure.
It serves organization investors, corporations, and individuals seeking vulnerability to integer plus markets and blockchain exertion solutions.

Galaxy Digital operates astatine standard successful the integer plus and blockchain sector, leveraging a diversified level crossed trading, plus management, and infrastructure solutions. The institution combines fiscal expertise with exertion innovation to code the evolving needs of organization and firm clients successful the integer economy. Its integrated attack and wide merchandise suite presumption it arsenic a starring supplier of fiscal services wrong the crypto and blockchain ecosystem.

This portfolio typically keeps idiosyncratic positions modest, with astir apical holdings clustered conscionable supra 2%, truthful astatine 1.67% of assets, this involvement fits the signifier of a measured introduction and not needfully a high-confidence swing. That sizing matters due to the fact that shares of Galaxy Digital person dropped astir 40% from precocious October aft the institution announced a $1 cardinal exchangeable notes offering, reigniting acquainted dilution concerns.

Yet the underlying concern is throwing disconnected existent earnings. In the 3rd quarter, Galaxy reported nett income of $505 cardinal and adjusted EBITDA of $629 million, driven by grounds trading enactment and concern gains. The equilibrium expanse remains liquid, with $1.9 cardinal successful currency and stablecoins and full equity of $3.2 cardinal astatine quarter-end. Just arsenic important, its Helios information halfway task is present afloat funded, with up to $1 cardinal successful anticipated yearly gross erstwhile each phases are delivered.

Ultimately, this apt isn’t a volatility trade. It is simply a stake that Galaxy’s diversified vulnerability to trading, plus management, and AI-linked infrastructure yet matters much than the sound created by 1 seemingly achy financing decision.