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Galaxy Digital Announces First Quarter 2021 Financial Results Net comprehensive income¹ grew to $ 860 million Assets Under Management ( " AUM " ) ² increased 58 % Counterparty loan originations grew over 510 % Erin Brown joins Executive Team as Chief Operating Officer Galaxy Digital has agreed to acquire BitGo NEW YORK , NEW YORK , May 17 , 2021- Galaxy Digital Holdings Ltd. ( TSX : GLXY ) ( " Galaxy Digital " the " Company " or " GDH Ltd. " ) today released financial results for the three months ended March 31 , 2021 for both itself and Galaxy Digital Holdings LP ( the " Partnership " or " GDH LP " ) . " Galaxy Digital reported another consecutive record quarter , as net comprehensive income grew to $ 860 million from $ 336 million in the prior quarter , AUM increased 58 % in the quarter , and counterparty loan originations increased over 510 % , " said Michael Novogratz , Founder and CEO of Galaxy Digital . " Beyond delivering dramatic organic growth , we announced we will acquire BitGo , which will establish Galaxy Digital as the first full - service digital asset financial platform for institutions and ensure our business is aligned with broader institutional adoption . " Select Financial Highlights for the First Quarter 2021 , compared to First Quarter 2020 Net comprehensive income¹ increased to $ 860.2 million , from a net comprehensive loss of $ 26.9 million in the prior year period . O O GALAXY DIGITAL O O Fair Value of Net Asset Holdings³ increased 128 % to $ 1.85 billion , from $ 813.5 million at the end of the prior year . The increase was primarily a result of gains on digital assets and on investments . As of March 31 , 2021 , the Partnership had a material net holding in Bitcoin of approximately $ 761.8 million , excluding non - controlling interests . The increase in the value of holdings was primarily driven by the increase in price . O O The increase was primarily a result of realized and unrealized gains on digital assets and on investments , coupled with strong contribution from our trading business , partially offset by higher operating expenses . Income from our trading business increased to $ 508.7 million , from a loss of $ 31.5 million in the first quarter of last year . Net realized gains from investments were $ 151.1 million in the quarter . Investments stood at $ 351.6 million as of March 31 , 2021 , an increase of $ 91.2 million from December 31 , 2020 . The change was primarily due to the increase in unrealized gains and $ 40.9 million of new capital deployed by the Principal Investments team during the year , which were partially offset by the sale of some investments . Operating Highlights for the First Quarter 2021 , compared to First Quarter 2020 Galaxy Digital Trading ( " GDT " ) reported records in : counterparty trading volumes , the size of its counterparty loan book , and in gross counterparty loan book originations . Counterparty trading volumes continued to experience significant growth , increasing 50 % from the quarter ended December 31 , 2020 , and over 290 % year over year . 1 Excluding non - controlling interests ( " NCI " ) . 2 AUM is an internal estimate inclusive of a sub - advised fund , committed capital in a closed - end vehicle , and seed investments by affiliates . Changes in AUM are generally the result of performance , contributions , and withdrawals . 3 This supplementary financial measure is defined as Digital assets plus Investments , less Digital assets sold short , less Investments sold short , less Non - controlling interests . Page 1 All figures are in U.S. Dollars unless otherwise noted .