[144] Galaxy Digital Inc. SEC Filing

Rhea-AI Filing Summary

Amendment No. 1 to Schedule 13G, dated 30 June 2025 and filed 5 Aug 2025, shows that FIL Limited, Pandanus Partners L.P. and Pandanus Associates Inc. collectively hold 121,496 common shares of the iShares MSCI Japan Value ETF (CUSIP 46435U374), equal to 1.1 % of the ETF’s outstanding shares. FIL, a Bermuda-based foreign institution, has sole voting authority over 113,303 shares and sole dispositive authority over the full position; the Pandanus entities, organised in Delaware, list no voting or shared dispositive power but may be deemed beneficial owners by virtue of common control. Because the stake is below 5 %, the filing is on a passive Schedule 13G rather than a 13D. The certifying statement affirms the shares were acquired in the ordinary course of business and not to influence the issuer’s control. Standard Item 3 classifications, Exhibit 99 group agreement references and signatures by attorney-in-fact Richard Bourgelas are included.

Insights

Portfolio Manager

TL;DR: FIL discloses a 1.1 % passive stake—informative but immaterial to ETF operations or valuation.

The filing signals a modest ownership position by FIL Limited and related entities in the iShares MSCI Japan Value ETF. At 1.1 % of units outstanding, the stake is well below the 5 % threshold that might suggest a potential activist angle, and the Schedule 13G certification explicitly states no intent to influence control. Voting power is largely retained (113,303 units) while full dispositive control (121,496 units) rests with FIL, indicating flexibility to trade without partner consent. From a portfolio-level perspective, this disclosure provides transparency into FIL’s allocation to Japanese value equities but is unlikely to affect fund flows, index composition, or market price. Overall impact for investors in either FIL funds or the ETF itself is neutral.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	350000	9443842.22	172401243	08/06/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	08/06/2025	Option Granted 03/29/2023	Issuer			350000	08/06/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Erin Brown 300 Vesey Street New York, NY 10282	Class A	05/20/2025	87704	1944397.68
Erin Brown 300 Vesey Street, New York, NY 10282	Class A	05/29/2025	353956	6405718.71

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many shares does FIL Limited report owning in the iShares MSCI Japan Value ETF?

121,496 common shares are reported as beneficially owned.

What percentage of the ETF’s outstanding shares does this represent?

The position equals 1.1 % of the class.

Why was a Schedule 13G, rather than a 13D, filed?

Ownership is below 5 % and the filers certify the stake is passive with no control intent.

Which entity holds voting authority over the shares?

FIL Limited has sole voting power over 113,303 shares; the Pandanus entities have none.

Who signed the filing on behalf of the reporting persons?

Attorney-in-fact Richard Bourgelas signed under a power of attorney dated 23 May 2023.