A rising bitcoin price is seen as most favorable for Galaxy's digital assets business, while miners fight a rising network hashrate, the report said.

The company said its net revenue for the first six months of 2025 was $67.9 million, against a net loss of $282.5 million.

Bitcoin Standard Treasury Co.'s SPAC deal combines fiat financing and a bitcoin-denominated PIPE, aiming to debut on the Nasdaq with over 30,000 BTC and an aggressive growth plan.

Rick Rieder cited strong earnings, high yields and low volatility as drivers of today’s favorable investing climate, while warning complacency remains a risk.