Bitcoin · Galaxy Digital · Bitcoinist
HYPE Rallies On Bitwise’s Hyperliquid ETF Move—Galaxy Locks in BitLicense In NY
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The entire crypto market opened the week on a turbulent note, with Bitcoin (BTC) giving back about 6% over the past seven days.
Key facts
- Shares of Galaxy, ticker GLXY, fell by almost 6%, slipping back to around $27.87 to close Monday’s trading session
- Galaxy said the NYDFS granted GalaxyOne Prime NY, the Galaxy entity designed to serve New York clients, both a BitLicense and a Money Transmission License
- The entire crypto market opened the week on a turbulent note, with Bitcoin (BTC) giving back about 6% over the past seven days
- Galaxy Founder and CEO Mike Novogratz said New York is home to the deepest pool of institutional capital in the country, emphasizing that digital assets are no longer “sitting at the edge
Summary
One of the key drivers behind the altcoin’s Monday strength came from Bitwise. Bitwise also said the newly launched fund provides investors with indirect exposure to HYPE tokens, along with staking rewards, giving the product a linkage to the token’s broader value proposition rather than simple spot exposure. The result was a noticeable lift in the token’s price action during the session. Yet despite these positive developments in the Hyperliquid space, Galaxy Digital’s stock told a different story on the same day.