Galaxy Reports $85M Net Loss amid Q2 Crypto Market Slump | Crypto ETF News
Crypto ETF news: Galaxy Reports $85M Net Loss amid Q2 Crypto Market Slump. This update explains what changed, why it matters for institutional adoption, market flows, and investor sentiment, and what the crypto market should watch next.
Institutional And ETF Update
Galaxy Digital reported an $85 million net loss for the second quarter of 2026 as cryptocurrency valuations declined in the period.That resulted in a $0.09 loss per share posted on Wednesday which Galaxy attributed to the depreciation of digital asset prices during the quarter. Revenue at $8.7 billion was down 15% from $10.2 billion in the first quarter of 2026. Analysts had forecast a consensus of $12.7 billion, according to estimates compiled by Yahoo Finance.Galaxy’s shares fell 6.2% in premarket activity on Wednesday to $20.70, set to extend a nearly 10% decline over the past month. The total crypto market capitalization fell nearly 15% during the quarter, to $2 trillion on June 30 from $2.35 trillion on April 1, according to CoinMarketCap data.Despite the slump, the company reported that digital assets generated adjusted gross profit of $66 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $11 million, marking a 34% quarter-over-quarter increase in adjusted gross profit. EBITDA measures a company’s core operating profit by removing financing costs, taxes, asset value changes and one-time expenses.Galaxy said this reflects the “resilience of our business model and further demonstrates that our earnings are becoming less dependent on the direction of digital asset prices.” The company also reported generating adjusted gross profit of $20 million from AI data centers during the quarter, as it ramped up capacity delivery to CoreWeave. Galaxy expects $1 billion in annual revenue from its 15-year partnership with CoreWeave. The company secured $1.4 billion to expand its Texas Helios AI data center in August 2024.Magazine: Why institutions still prefer Ethereum despite faster blockchainsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Why This ETF News Matters
First, this development may affect institutional demand, exchange flows, market liquidity, and broader investor confidence. In addition, it may influence custody trends, fund positioning, and future crypto product approvals. As a result, traders and investors should watch the next moves closely.
What To Watch Next
Watch for filing updates, approval decisions, inflow and outflow data, custody changes, and asset manager commentary. In particular, any new developments involving BlackRock, Grayscale, Fidelity, or major spot ETF products could directly affect the broader crypto market.
