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.

Galaxy Digital (NASDAQ:GLXY)

A close up of a person’s hands interacting with a digital financial asset tracker.

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.

While we acknowledge the risk and potential of GLXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GLXY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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