Crypto · Yahoo Finance
BlackRock Picks Galaxy Digital (GLXY) to Power Its New Staking ETF
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Galaxy Digital Inc. (NASDAQ: GLXY ) is one of the best Ethereum stocks to buy now.
Key facts
- On April 14, BTIG analyst Gregory Lewis reiterated a Buy rating and maintained a $50 price target on Galaxy Digital Inc. (NASDAQ:GLXY)
- That infrastructure position will continue to grow, noted Lewis, who pointed out that Galaxy received approval from Electric Reliability Council of Texas, or ERCOT, in early Q1 2026 for an additional
- Galaxy said that BlackRock has structured ETHB to hold spot Ether and stake between 70% and 95% of those holdings through its approved validators
- Meanwhile, on April 9, Galaxy announced that BlackRock had selected it as one of three approved validators to power staking for the iShares Staked Ethereum Trust ETF (ETHB)
Summary
The cornerstone of Lewis’s argument is Galaxy’s existing colocation contract with cloud computing provider CoreWeave. Lewis expects Galaxy to begin signing new colocation contracts for this additional capacity later this year. Meanwhile, on April 9, Galaxy announced that BlackRock had selected it as one of three approved validators to power staking for the iShares Staked Ethereum Trust ETF (ETHB). Galaxy said that BlackRock has structured ETHB to hold spot Ether and stake between 70% and 95% of those holdings through its approved validators.