In a bold move that sent shockwaves through the cryptocurrency market, Galaxy Digital Inc. revealed that it now owns $34.4 million in XRP, according to its latest filing with the Securities and Exchange Commission for the quarter ending June 30, 2025.
This represents a significant shift in the company's digital asset portfolio, as it has also increased its Bitcoin holdings while reducing exposure to both Ethereum and XRP.
The latest filing shows that Galaxy Digital now holds 17,102 Bitcoins, worth nearly $1.8 billion, an increase from the previous quarter. In contrast, Ethereum holdings sharply declined from 155,026 Ethereum to 90,521 Ethereum. Meanwhile, XRP holdings slightly decreased to 15.4 million tokens, down from 16.9 million in the first quarter of the year.
What caught investors' attention was Galaxy Digital's surprising acquisition of XRP. The company's financial report released in December 2024 showed no holdings of XRP, but by mid-2025, it had accumulated over 15 million XRP tokens.
This strong move in such a short period has led many to question the company's long-term strategy for digital assets.
The rise in Bitcoin's value, along with a significant increase in its market capitalization, led to a 40% increase in Galaxy Digital's crypto portfolio in just one quarter. As a result, the total value of the company's digital assets rose to approximately $1.2 billion.
Financially, Galaxy Digital has seen a remarkable turnaround, reporting a net income of $30.7 million, reflecting a loss of $125.6 million in the second quarter of 2024. The operating profit for the quarter was $395 million.
The growing adoption of XRP by recognized companies in recent SEC filings
The acceleration of corporate adoption of XRP continues, with several major companies announcing strategic investments in the currency. Bill Morgan, a Ripple advocate, highlighted key findings from recent U.S. Securities and Exchange Commission (SEC) filings, which show increasing interest in XRP as a balance sheet asset.
Notably, Flora Growth disclosed its holdings of Ripple (XRP), along with Ethereum and Solana, which it purchased to strengthen its financial position. Similarly, Hyperscale Data Inc. revealed its holdings of Ripple within its digital asset portfolio and plans to issue monthly updates on its holdings.
Furthermore, the Ault Capital Group, a subsidiary of Hyperscale, aims to purchase up to $10 million in XRP to support cross-border payments and decentralized financial services.
Increased institutional interest in Ripple after gaining regulatory clarity
Galaxy Digital's acquisition of XRP comes at a time of increasing institutional interest in the token, largely driven by favorable legal rulings against Ripple in the United States. More and more companies are adding XRP to their balance sheets, viewing it as a viable treasury asset, similar to Bitcoin.
Galaxy also made headlines when it transferred $40.7 million from Solana to Binance, indicating a shift in liquidity and asset strategy. This move, along with its acquisition of XRP, shows that Galaxy Digital is recalibrating its investment portfolio to keep pace with emerging market trends and capitalize on new opportunities in the digital asset space.
The shift in Galaxy Digital's strategy reflects growing confidence in XRP and the broader cryptocurrency market. The company's recent actions suggest a sophisticated strategy that could reshape its digital asset portfolio and investment approach in the coming quarters.