Galaxy Digital’s Assets Under Management Declines 9.5% In April
After two months of asset under management improvements for Galaxy Digital (TSX: GLXY), it appears that the company has again seen a decline. The firm last night published the latest data on the matter, revealing that April proved to be a difficult month for crypto enthusiasts on its platform.
The firms assets under management declined to $ 2,466.8 million on a preliminary basis. The decline represents a 9.5% decrease in assets under management over the course of a month, while also marking the second time this year that the company has posted month over month declines in AUM.
In terms of year to date performance, the company has yet to get into the black. The company remains down 14.3% from the $ 2,877.6 million in assets under management recorded by the company as of December 31.
Comparatively, bitcoin is down 25.2% year to date, an effective barometer for the performance of Galaxy’s AUM during the same time period. The month of April saw the digital currency decline 17.3% on a month over month basis, again a worse rate of decline than that experienced by Galaxy’s AUM.
Galaxy Digital last traded at $ 14.07 on the TSX.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.