On September 23, Galaxy Digital Holdings Ltd. fell 5.02% in regular trading, trading at $25.80 USD/share, with turnover of approximately $92.72 million. The stock gave back gains from earlier sessions, during which it had rallied on SEC tokenized stock exemption optimism.

On the news front, on-chain data revealed that a whale transferred 42,000 ETH, valued at approximately $112 million, to Galaxy Digital with the intent to sell. The whale had accumulated these tokens over the past two months through Galaxy Digital's over-the-counter trading desk. Such a large-scale liquidation via OTC channels signals notable selling pressure in the Ethereum market, weighing on sentiment toward Galaxy Digital's crypto brokerage and trading operations.

Meanwhile, Galaxy Digital announced a collaboration with Sky Protocol across lending and capital markets, adding $100 million of sUSDS to its corporate treasury and approving the token as eligible collateral across its $1.4 billion average institutional loan book. While strategically constructive, the partnership news was insufficient to offset the negative sentiment from the large ETH disposition.

Within the Asset Management and Custody Banks sector, broader weakness prevailed. Among individual stocks, Beneficient surged 433.16%, while Blackstone fell 3.89%, Bank of New York Mellon fell 0.47%, BlackRock fell 0.53%, and KKR fell 1.42%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)