Shares of Galaxy Digital Inc. ( GLXY ) are trading higher Monday as interest in crypto-related equities continues to rise following several catalysts tied to institutional backing, AI infrastructure developments and broader sector momentum.

What To Know: The move in Galaxy Digital ( GLXY ) shares comes after Fundstrat’s head of digital asset strategy, Sean Farrell, labeled Galaxy as "one to watch" in a June 26 note that linked AI-driven M&A activity and U.S. fiscal policy trends to a more favorable outlook for names like Galaxy Digital ( GLXY ). The commentary, which also referenced the potential CoreWeave acquisition of Core Scientific, reinforced Galaxy's strategic relevance as a digital infrastructure player.

The stock potentially gained further attention over the weekend after Tom Lee of Fundstrat mentioned Galaxy in a public post, fueling speculation that Galaxy may be included in Fundstrat's Granny Shots ETF.

Galaxy Digital ( GLXY ) was also part of the broader AI infrastructure sector move last week after news broke that CoreWeave has been engaging in acquisition talks with Core Scientific. The deal would reportedly give CoreWeave full control over key hosting assets already under long-term contract.

Galaxy is building the Helios data center in Texas, a high-performance computing facility that has become increasingly relevant as demand for GPU power and infrastructure grows. The company recently signed an agreement with CoreWeave to support further AI compute capabilities, tying Galaxy's business closely to the broader narrative of AI and digital asset convergence.

Galaxy has also been actively expanding its footprint through a proposed Solana ETF in partnership with Invesco and a collaboration with Liquid Collective on liquid staking for institutions.

With improving flows into crypto assets, growing participation in the crypto equity space and major firms positioning around data infrastructure, Galaxy appears to be benefiting from multiple tailwinds.

GLXY Price Action: Galaxy Digital ( GLXY ) shares were up 9.66% at $21.90 at the time of writing, according to Benzinga Pro.

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