Galaxy Asset Management Surpasses $10 Billion in AUM
Galaxy Asset Management Surpasses $10 Billion in AUM
This article was updated on March 18, 2024.
Galaxy Asset Management (GAM) has surpassed more than $10 billion in assets under management, cementing its status as one of the world’s largest digital asset managers.
GAM reported preliminary assets under management of $10.1 billion as of February 29, 2024. The 24.8% increase in preliminary AUM compared to the prior month was primarily driven by market appreciation, partially offset by net outflows associated with an ongoing opportunistic mandate.
GAM’s continuous growth, more than tripling its AUM over the last year, reflects a surge in institutional interest in digital assets and investors’ willingness to work with a trusted, market-tested firm. While the journey wasn’t always easy, GAM never lost sight of its goal: Promote the responsible adoption of digital assets and blockchain technology.
Today, GAM boasts an impressive array of more than a dozen passive, active, and venture investment strategies, including the recently launched Invesco Galaxy Bitcoin ETF (BTCO), which offers U.S. investors efficient exposure to the world’s largest digital asset by market capitalization in partnership with Invesco.
GAM has also played a crucial role in helping the industry move past some of its more recent traumatic events. Over the last several months, GAM has been working closely with the FTX estate to monetize the firm’s digital asset holdings in a responsible manner that protects and maximizes value for the benefit of creditors without roiling markets. That effort has also contributed to the firm’s AUM growth.
GAM is committed to continuing to be a leading force in bringing investors into the digital asset fold. We plan to do this by building more compelling products designed to meet the ever-evolving needs of institutional investors; investing in more promising startups, and fostering the development of a maturing blockchain ecosystem; and helping to shape the regulatory landscape to promote innovation while also protecting investors.
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