In its Q2 2025 financial report, Galaxy Digital revealed a significant shift in its digital asset holdings. For the first time, the company confirmed that it holds $34.4 million worth of XRP. This marks the first appearance of XRP in Galaxy’s portfolio, which had previously shown no XRP holdings in its December 2024 report. The strategic addition highlights the company’s growing interest in the digital asset market and its focus on diversifying its holdings.
At the end of Q2 2025, Galaxy Digital held 15.39 million XRP, with a historical cost basis of $33.6 million. This suggests that the firm acquired the tokens at an average price of $2.18 per XRP. While XRP’s price fluctuated during July 2025, peaking at $3.66, Galaxy’s holdings reached a high value of $56.31 million. As of now, with XRP trading at $2.93, the total value of Galaxy’s XRP holdings is approximately $45 million, marking a notable increase from the figures reported at the end of June.
Increase in Bitcoin Holdings and Total Digital Asset Value
Galaxy Digital’s total digital assets surged to $3.56 billion in Q2 2025, up from $2.93 billion at the end of 2024. The company continued to increase its position in Bitcoin (BTC), adding 4,272 BTC to its holdings. At the end of Q2, Galaxy’s total Bitcoin position stood at 17,102 BTC, worth approximately $1.95 billion at a market value of $114,167 per BTC.
Other notable holdings include USDC, valued at $263 million, and Ethereum (ETH), valued at $225 million. Solana (SOL) is another significant asset in Galaxy’s portfolio, currently valued at $170 million. Additionally, Galaxy holds a variety of other assets, including HYPE and USDG, collectively valued at over $310 million.
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In its filing, Galaxy Digital also revealed a shift in its exposure to decentralized finance (DeFi) protocols. As of June 2025, 34% of Galaxy’s digital assets were tied to protocols associated with Coinbase, 15% with Aave, and 13% with Kamino. This represents a change from December 2024, when 41% of assets were linked to Sky DAO (MakerDAO), 18% to Coinbase, and 10% to Aave. The adjustments reflect the company’s evolving strategy and its focus on growing its DeFi portfolio.
A Strong Financial Rebound for Galaxy Digital
Galaxy Digital also reported a strong net income of $30.7 million for Q2 2025, a significant recovery from the $295 million loss in Q1 2025. This impressive turnaround was driven by robust gains in its balance sheet holdings and strong activity in the Global Markets division.
The company’s financial strength was highlighted by its $228 million in adjusted gross profit from its Treasury and Corporate segment and $211 million in adjusted EBITDA. Galaxy also reported $71.4 million in digital asset gross profit, a 10% quarter-over-quarter increase, signalling growing profitability.
Mike Novogratz Optimistic About Galaxy’s Performance
Mike Novogratz, the founder and CEO of Galaxy Digital, expressed his enthusiasm about the company’s performance, especially after a challenging start to the year. He highlighted that July 2025 had been their best month yet, with all business segments operating at full strength. Novogratz’s positive outlook underscores Galaxy Digital’s resilience and its ability to adapt to shifting market conditions.
Final Thoughts: Strategic Growth and Future Prospects
Galaxy Digital’s recent moves, including its acquisition of XRP and increased Bitcoin holdings, highlight its growing commitment to diversifying its portfolio and expanding its digital asset exposure. With a solid financial performance and continued interest in DeFi, Galaxy is positioning itself for future growth in the ever-evolving cryptocurrency landscape. Investors and analysts alike will be watching closely as the company continues to adjust its strategy in response to market trends.
