Galaxy Digital Buys Asset Manager Vision Hill Group; Shares Pop 10%


Galaxy Digital Holdings Ltd. (GLXY) rose more than 10% Tuesday morning after announcing it acquired Vision Hill Group. Galaxy Digital provides investment management services to the digital asset, cryptocurrency, and blockchain technology industries. On the other hand, Vision Hill provides consulting and digital asset management for institutional investors using data-driven solutions.

This acquisition expands the company’s Galaxy Fund Management platform, providing institutions with access to Vision Hill’s broad range of investment products, analytics, data, and benchmarks for the digital asset class.

Head of Global Markets and Co-President Damien Vanderwilt said, “As the institutionalization of digital assets accelerates, so does the need for comprehensive, institutional-grade platforms to support it, and that’s precisely what we’re building at Galaxy. The powerful data capabilities that Scott Army, Dan Zuller, and the Vision Hill team have developed are the perfect addition to our full suite of technology-driven financial services and investment management solutions, fostering the broader mainstream adoption of digital assets.”

Galaxy Digital’s Partner and Head of Asset Management Steve Kurz said, “Galaxy Fund Management is rapidly expanding its capabilities to ultimately provide institutional-grade exposure to every investable corner of digital assets so that institutions can easily get involved in this booming industry. Our acquisition of Vision Hill is an important milestone as Galaxy Fund Management’s product suite continues to grow and as we further define the digital asset class.”

Vision Hill’s CEO Scott Army added that the company is confident that Galaxy Fund Management will help bring its mission to life. Vision Hill has worked closely with Galaxy over the past two years. (See Galaxy Digital Holdings Ltd. stock analysis on TipRanks)

Earlier this month, Stifel Nicolaus analyst Deepak Kaushal maintained a Buy rating on GLXY while raising its price target to $40.00 (C$34.00) for 95% upside potential. Kaushal is the only analyst to have offered a stock rating for GLXY in the last three months. Shares have risen approximately 80% year-to-date.

TipRanks’ Smart Score

GLXY scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock’s returns are likely to outperform the overall market.

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