The Q2 2025 report from Galaxy Digital shows notable recovery and strategic expansion into XRP.
On Tuesday, Galaxy Digital Inc. confirmed it holds $34.4 million worth of XRP, according to its latest SEC filing for the quarter ended June 30, 2025. This marks the first time XRP has appeared in the company’s digital asset holdings.
Its financial report for December 2024 showed no XRP holdings. However, it did report significant holdings in Bitcoin (BTC), Ethereum (ETH), USDC, Solana (SOL), Uniswap (UNI), and Celestia (TIA).
XRP Makes Notable Entry into Galaxy Portfolio
XRP has made a notable entry into Galaxy’s crypto asset portfolio within just six months. By the end of the second quarter of 2025, the company held 15.39 million XRP, with a historical cost basis of $33.6 million. This suggests the firm acquired the tokens at $2.18 per XRP.
As of the end of June, the company valued its XRP holdings at $34.4 million. Considering XRP’s price performance in July, when it reached $3.66, Galaxy’s holdings peaked at a value of $56.31 million.
However, at press time, with XRP trading at $2.93, its holdings are worth around $45 million. This is a significant improvement from the figures reported at the end of last month.
Galaxy Increases Bitcoin Holdings by 4,272 Coins
Notably, Galaxy Digital’s total digital assets surged to $3.56 billion in carrying value, up from $2.93 billion at the end of December 2024.
Bitcoin remains Galaxy’s largest position. The company increased its holdings from 13,704 BTC in Q1 to 17,102 BTC in Q2, adding 4,272 BTC during the quarter. At a market value of roughly $114,167 per BTC, Galaxy’s Bitcoin position is worth approximately $1.95 billion.
USDC stablecoin comes next with $263 million. The company also holds Ethereum, with $225 million worth of tokens, and Solana worth $170 million. Other holdings (including HYPE and USDG) are valued at over $310 million.
DeFi Exposure
The filing also revealed that as of the end of June, 34% of Galaxy’s digital assets were tied to protocols associated with Coinbase, 15% with Aave, and 13% with Kamino. This reflects an adjustment from December 2024, when 41% of assets were linked to Sky DAO (MakerDAO), 18% to Coinbase, and 10% to Aave.
Net Income Rebounds to $30.7 Million
Meanwhile, Galaxy reported a net income of $30.7 million for Q2 2025, a dramatic reversal from the $295 million loss posted in Q1. The rebound was driven by gains in balance sheet holdings and robust activity in the Global Markets division. In its report, Galaxy cited:
- $228 million in adjusted gross profit from its Treasury and Corporate segment
- $211 million in adjusted EBITDA
- $71.4 million in digital asset gross profit, up by 10% quarter-over-quarter
Mike Novogratz, founder and CEO of Galaxy, expressed strong enthusiasm about the company’s performance. He noted that July was, by all accounts, their best month yet, with all business segments beginning to operate at full strength.
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