Grove and Galaxy Digital reach $500 million warehouse credit agreement
Source: Global Market Broadcast
Institutional credit infrastructure protocol Grove and Galaxy Digital recently announced a $500 million warehouse loan arrangement aimed at providing funding support for institutional loans collateralized by digital assets.
A warehouse loan is a financing model in which the loan originator obtains a credit line to support its lending business. Under this model, the originator is responsible for loan underwriting and issuance, while the warehouse lender provides funding secured by the loan portfolio. In this partnership, Galaxy Digital acts as the loan originator and servicer, overseeing the underwriting and management of institutional loans as well as the disposition of digital asset collateral. Grove, as the warehouse lender, provides USDS stablecoin capital through a dedicated lending vehicle.
According to the arrangement, this facility only accepts bitcoin and ether (including native staked and liquid staked ether) as eligible collateral, with custody provided by qualified custodians Anchorage Digital and BitGo. All base loans will be over-collateralized, loan-to-value ratios will be continuously monitored by the Chronicle pricing data source, and there will be concentration limits, such as ether-collateralized loans not exceeding half of the total capacity.
This partnership builds on the existing relationship between the two parties. In December 2025, Grove participated with $50 million in Galaxy Digital's first tokenized loan collateralized bond. Unlike the previous investment, which targeted already packaged loan portfolios, the new warehouse credit arrangement enables Grove to participate earlier in the process, providing direct funding for Galaxy Digital’s origination of new institutional loans.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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