Galaxy Digital Stock Falls 3% Despite Tokenet Institutional Lending Investment

Galaxy Digital (GLXY) stock fell more than 3% on Tuesday (June 23) after the firm announced a strategic investment in Digital Prime Technologies, the developer of Tokenet, an institutional digital asset lending platform developed with EquiLend. The investment's financial terms were not disclosed.

Tokenet launched in May and brings securities-lending workflows, collateral management, and lifecycle tools to digital asset lending, with Galaxy among its first participants. Galaxy stated the investment will accelerate Tokenet's development and expand its institutional client base. The broader decline reflected weakness across crypto and tech assets, with Bitcoin trading near $62,400 (down 4%) and Ethereum down more than 5%.