Galaxy Digital (GLXY) Jumps 16.8% on Bitcoin Asset Investment

We recently published 10 Stocks Exploding Higher: Bitcoin Miners Dominate the List. Galaxy Digital (NASDAQ:GLXY) is one of Wednesday's top performers.

Galaxy Digital jumped by 16.78 percent on Wednesday to end at $24.36 apiece as investors cheered on its expansion into Bitcoin holdings through an investment in Function.

Function, formerly Ignition, said in a statement on Wednesday that it raised as much as $10 million from investment support from Galaxy Digital (NASDAQ:GLXY), Antalpha, and Mantle.

Function—through FBTC, a fully reserved Bitcoin asset—is transforming Bitcoin from a passive store of value into a productive, composable financial asset that can flow seamlessly across decentralized and traditional markets.

Jason Urban, Global Head of Trading at Galaxy Digital (NASDAQ:GLXY), said that Function’s institutional expertise strengthens its mission to build the standard infrastructure that enables Bitcoin to flow freely across global financial markets.

“I believe Function represents the next evolution in Bitcoin’s journey toward becoming a productive financial asset. We’re excited to contribute to the infrastructure that Function is building to establish Bitcoin as a capital-efficient reserve asset for global markets,” he added.

Based on its historical earnings reporting dates, Galaxy Digital (NASDAQ:GLXY) is set to release its second quarter earnings results in the first week of August 2025.

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Disclosure: None. This article is originally published at Insider Monkey.