Why Are Novogratz, Fidelity, And Bakkt Banking On Institutional Crypto Investors?24.32

It goes without saying that Galaxy Digital, a digital asset-centric merchant bank, has been beaten and bruised in recent months. Months ago, to remain coherent with its appearance on the Toronto Stock Exchange, the startup was required to divulge its Q1 balance sheet, which wasn’t pretty, to put it lightly. However, the Galaxy’s top brass have seemingly remain undeterred, setting its scopes on new sectors in crypto to maintain its hegemony.

Just recently, NewsBTC reported that institutionally-sourced capital has continued to flow into this industry’s coffers en-masse, even in spite of the cryptocurrency market’s retail drought. Alex Kruger, a well-respected market researcher, claimed that $5.9 billion of Wall Street capital directly entered into digital assets, amounting to 2.8% of the aggregate value of all cryptocurrencies.

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