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.
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.