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Galaxy Digital Continues M&A Streak With Vision Hill Acquisition

Following its $1.2 billion BitGo acquisition, Galaxy is adding a data-focused asset management firm.

Updated May 9, 2023, 3:19 a.m. Published May 24, 2021, 12:00 p.m.
Galaxy Digital CEO Mike Novogratz
Galaxy Digital CEO Mike Novogratz

Cryptocurrency financial services firm Galaxy Digital has bought Vision Hill Group, an asset manager and data shop, for an undisclosed sum.

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Galaxy announced the deal Monday, saying Vision Hill will become part of Galaxy’s fund management division. The New York City-based Vision Hill develops market intelligence products such as hedge fund indices and a buy-side database called “VisionTrack” for institutional clientele.

The acquisition continues a string of recent data plays by big-name crypto firms hungry to bolster their institutional research appeal. Coinbase bought Skew in April and NYDIG bought Digital Assets Data in January. Those companies, and Galaxy, have expanded their business footprints over a busy 12 months of M&A. Galaxy even splashed 10 figures on crypto custodian BitGo.

Read more: Galaxy Digital to Buy BitGo for About $1.2B in Stock, Cash

"Galaxy Fund Management is rapidly expanding its capabilities to ultimately provide institutional-grade exposure to every investable corner of digital assets so that institutions can easily get involved in this booming industry," Steve Kurz, Galaxy Digital’s head of asset management, said in a statement.

Vision Hill CEO Scott Army said his firm has worked with Galaxy since 2019.

"Our mission is to empower institutional investors with data-driven solutions so that they can get the most out of digital assets," Army said in a statement.

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