Citizens analyst Devin Ryan reiterated a bullish call on Galaxy Digital after the company launched an institutional OTC prediction markets desk, arguing the new business adds another growth channel to its expanding digital asset platform.
Ryan’s $55 price target implies about 75% upside from Galaxy’s recent trading level near $31.48. The rating keeps Citizens among the more bullish firms covering the stock, even as broader analyst expectations remain more conservative.
Galaxy launched the desk on June 2 through its Global Markets unit, offering institutions a way to execute large event driven trades through structured OTC transactions. The debut included a $10 million bilateral trade with crypto native hedge fund Arca tied to the CLARITY Act, a major US digital asset market structure bill.
The launch gives Galaxy a new foothold in a market that has been gaining institutional attention as investors look for ways to express views on regulation, elections, macro policy, and other real world outcomes.
For Galaxy, the product fits a broader push to become a full service institutional crypto platform. The company has expanded across trading, asset management, staking, treasury services, and infrastructure, while also moving into data centers and AI linked compute.
