XML 56 R47.htm IDEA: XBRL DOCUMENT

DERIVATIVES (Tables) - Galaxy Digital Holdings, LP

3 Months Ended

Mar. 31, 2025

Schedule of Company’s Derivatives Portfolio

The breakdown of the Company’s derivatives portfolio, as of December 31, 2024 and December 31, 2023, was as follows (in thousands):

December 31, 2024


(in thousands)	Notional Amounts (1)		Gross Fair Value-Derivative Assets		Gross Fair Value- Derivative Liabilities
Digital assets	$	4,685,112	$	185,208	$	(145,493)
Foreign currencies	19,259		12,064		(10,483)
Equity securities	1,049,846		10,343		(9,683)
Interest rates	5,002		19		(13)
Commodities	10,583		19		(186)
	$	5,769,802	$	207,653	$	(165,858)

Digital assets receivable	3,911		60,720		—


Embedded derivatives — Digital assets borrowed	1,269,013		24,039		(252,635)
Embedded derivatives — Collateral payable	1,219,247		55,848		(161,261)

Embedded derivatives — Notes payable	847,500		—		(136,192)

December 31, 2023


(in thousands)	Notional Amounts (1)		Gross Fair Value-Derivative Assets		Gross Fair Value- Derivative Liabilities
Digital assets	$	2,831,616	$	122,911	$	(120,795)
Foreign currencies	3,397		11,279		(11,027)
Equity securities	54,417		30,541		(23,876)
Interest rates	1,408,406		7,698		(4,639)
Commodities	61,236		780		(305)
	$	4,359,072	$	173,209	$	(160,642)

Digital assets receivable	15,971		20,860		—


Embedded derivatives — Digital assets borrowed	369,280		877		(29,874)
Embedded derivatives — Collateral payable	439,544		4,244		(134,695)

Embedded derivatives — Notes payable	445,000		—		(10,472)

___________________

(1)Notional amounts represent the U.S. Dollar denominated size of the underlying assets for the derivative instruments. They do not accurately reflect the Company's economic exposure as they do not reflect the Company's long and short derivative positions.

Schedule Of Collateral Payable Associated With Derivative Positions

The below table represents the breakdown of assets posted as collateral and collateral payable associated with derivative positions as of December 31, 2024 and 2023:


(in thousands)	December 31, 2024		December 31, 2023
Assets posted as collateral — Digital assets	$	—	$	15,284
Assets posted as collateral — Cash	—		2,091
Assets posted as collateral associated with derivatives	$	—	$	17,375

Collateral payable — Digital assets	30,600		9,521
Collateral payable — Cash	30,460		11,367
Collateral payable associated with derivatives	$	61,060	$	20,888

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details