As the crypto market matures, institutional investors are starting to play a bigger role. Galaxy Digital, a digital asset merchant bank founded by Mike Novogratz, is one of those institutional investors.
Galaxy Digital has made a number of Ethereum-related investments, leading some to speculate that the firm may own a significant amount of ETH.
Galaxy Digital’s most notable Ethereum investment is its $15 million purchase of shares in Block.one, the company behind the EOSIO protocol. Block.one also happens to be one of the largest holders of ETH, with over 345,000 ETH in its treasury.
NOTE: WARNING: Galaxy Digital does not own Ethereum. Ethereum is a decentralized, open-source blockchain platform and cryptocurrency that is not owned by any single entity. Trading and investing in cryptocurrencies, such as Ethereum, carries a high level of risk and may not be suitable for all investors. Before trading or investing in any cryptocurrency, it is important to do your own research and consult a financial advisor.
Given the close relationship between Galaxy Digital and Block.one, it’s possible that Galaxy Digital has a direct or indirect stake in Block.one’s ETH holdings.
In addition to its investment in Block.one, Galaxy Digital has also been involved in a number of other Ethereum-related projects.
The firm was an early investor in ConsenSys, a blockchain software company focused on building applications on Ethereum. Galaxy Digital is also a member of the Enterprise Ethereum Alliance (EEA), which is working to promote the adoption of Ethereum by businesses and organizations.
So does Galaxy Digital own Ethereum? It’s hard to say for sure, but the evidence suggests that the firm may have a significant amount of ETH in its portfolio. If true, this would make Galaxy Digital one of the largest institutional investors in Ethereum today.
4 Related Question Answers Found
Microsoft has been a major player in the development of blockchain technology. The company has been involved with Ethereum since its early days and has even developed its own blockchain-based platform, called Azure Blockchain Services. However, Microsoft does not own Ethereum.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In order to run these applications, people need to use Ether, the native token of Ethereum. Ether is used to pay for gas, a unit of computation used in Ethereum.
When it comes to cryptocurrency, ether and Ethereum are often used interchangeably. However, they are not the same thing. Ether is the cryptocurrency used within the Ethereum network.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is a programmable blockchain. It means that people can use Ethereum to create their own decentralized applications.
