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Galaxy expands institutional crypto lending with $500M Grove credit facility

Galaxy Digital has secured a $500 million warehouse lending facility from Grove to expand its institutional crypto-backed lending business. This facility allows Galaxy to originate loans secured by digital assets, primarily Bitcoin and Ether, with Grove providing the capital. The structure applies traditional warehouse lending models to crypto, financing loan creation before assets are packaged. Loans are overcollateralized, limited to BTC and ETH held by qualified custodians, and feature continuous LTV monitoring. This partnership builds on a previous $50 million tokenized credit deal, moving Grove earlier in the credit chain to fund new originations. The facility aims to support Galaxy's lending growth while providing Grove exposure to a secured loan portfolio.

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