Galaxy Digital acquires Alluvial Finance to become Liquid Collective developer

Galaxy Digital Inc. (NASDAQ: GLXY) announced it acquired Alluvial Finance, making Galaxy the development company for Liquid Collective, a liquid staking protocol.

Through the acquisition, Galaxy takes responsibility for developing and maintaining the Liquid Collective protocol. The company will onboard Alluvial's engineering team and technology, including a staking management system and developer tools for exchanges, custodians, and asset managers.

Liquid Collective tripled its assets on platform to approximately $1 billion in 2025. The protocol enables institutional investors to stake Ethereum or Solana and receive tokens representing their staked positions, which can be used for trading, collateral management, or other strategies.

"Galaxy has always built the infrastructure institutions need to operate confidently onchain—from trading and custody to lending and staking. Becoming Liquid Collective's Development Company is a natural extension of that mission," said Michael Novogratz, founder and CEO of Galaxy.

Galaxy operates one of the largest institutional trading, lending, and staking platforms with approximately $6.6 billion in assets under stake as of September 30, 2025. The platform serves more than 1,200 institutional counterparties globally and offers staking services across protocols including Ethereum and Solana.

Liquid Collective will continue operating independently under The Liquid Foundation, an entity established to ensure neutrality, transparency, and institutional governance. The foundation plans to expand its governance framework by inviting additional institutional stakeholders to participate in oversight and growth.

As the new development company, Galaxy plans to expand the protocol across new assets and protocols while broadening institutional access to liquid-staking products worldwide.

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