Galaxy Digital Makes Bold XRP Bet With $34M Token Holding and $97M Ripple Stake
Galaxy Digital, the crypto-focused financial services firm led by Mike Novogratz, has revealed a substantial position in XRP and Ripple Labs, signaling strong institutional confidence in the embattled token’s long-term potential.
According to the firm’s Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC) on Aug. 5, 2025, Galaxy held 15.39 million XRP tokens worth $34.4 million as of June 30 — making XRP its seventh-largest crypto asset by value.
Galaxy Digital’s significant digital asset holdings (Source: Galaxy Digital’s SEC filing)
The disclosure also unveiled a $97.3 million equity investment in Ripple Labs Inc., the company behind the XRP token.
That dual exposure marks XRP as a critical component of Galaxy’s $3.56 billion digital asset portfolio, placing it just behind heavyweight allocations to Bitcoin ($1.83 billion), USDC, Ethereum, Solana, and the meme-inspired token HYPE.
XRP Institutional Glow Grows Brighter
Galaxy’s XRP holdings stand out not just for their size, but for the context surrounding them. The firm has maintained its exposure even amid the backdrop of Ripple’s years-long legal battle with the SEC — a saga that has kept XRP in the regulatory crosshairs since 2020.
In its filing, Galaxy acknowledged the risk of “ongoing regulatory uncertainty,” referencing the SEC’s $1.3 billion lawsuit against Ripple Labs and the mixed 2023 court ruling that classified the crypto itself as not a security, but labeled certain institutional sales as unregistered investment contracts.
The SEC’s appeal, filed in early 2025, appeared to lose steam by mid-year when the agency agreed to a $50 million civil settlement and signaled its intention to drop the case. Despite this, Galaxy warned that conflicting rulings and the broader lack of clear regulatory frameworks still pose challenges for crypto investors.
Yet, Galaxy’s actions speak louder than its cautionary words. The firm explicitly stated that Ripple was one of only two investments exceeding 5% of its total investments as of June 30.
Ripple now stands alongside Galaxy-sponsored funds and bitcoin ETFs as a top-tier conviction play — highlighting the company’s belief in Ripple’s vision for compliant, scalable blockchain solutions in cross-border finance.
A Vote of Confidence for Ripple’s Future
Galaxy’s investment appears to be driven by more than just speculation. The firm emphasized Ripple’s role in advancing next-generation financial infrastructure, from tokenized assets to global payments. The dual stake — in both XRP the asset and Ripple the company — suggests Galaxy is positioning itself at the intersection of utility-driven adoption and institutional-grade digital asset management.
The revelation is already making waves across the crypto community, especially among XRP supporters who view this as validation of the asset’s resurgence. Ripple has been working to expand its footprint in central bank digital currencies (CBDCs), stablecoin infrastructure, and tokenization — trends that are drawing increasing institutional attention.
The XRP Resurgence
XRP’s inclusion in one of the largest institutional portfolios — especially after years of legal headwinds — may mark a turning point for its reputation in traditional finance. As of June 30, the token’s carrying value of $34.4 million is only modestly above its historical cost of $33.6 million, indicating that Galaxy’s position is a deliberate long-term play rather than a speculative trade.
With regulatory winds beginning to shift, and with institutions like Galaxy reaffirming their belief in XRP’s real-world potential, the digital asset may be emerging from the legal shadow that has long capped its momentum.
