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Exhibit 21.1

SUBSIDIARIES OF GALAXY DIGITAL INC.*

Subsidiary name
Jurisdiction of incorporation
Galaxy Digital LP
Cayman Islands
Galaxy Digital LLC
Delaware
Galaxy Digital Holdings LP
Delaware
Galaxy Digital Services LLC
Delaware
Galaxy Digital Qualified Opportunity Zone Business, LLC
Delaware
Galaxy Bahamas Ltd.
Bahamas
Galaxy Venture Fund (2023) LP
Cayman Islands
Galaxy Digital Qualified Opportunity Fund 2024, LP
Delaware
Galaxy Helios I LLC
Delaware
Galaxy Helios I Pledgor LLC
Delaware
Galaxy Helios II Qualified Opportunity Zone Business, LLC
Delaware
Galaxy Trading Asia Limited
Hong Kong
Galaxy Power LLC
Delaware
Galaxy Digital UK Limited
UK
Galaxy Digital Qualified Opportunity Zone Business II, LLC
Delaware
Galaxy Digital Labs LLC
Delaware
Galaxy Digital Ventures LLC
Delaware
Galaxy Derivatives LLC
Delaware
GDS Crypto Technologies Israel Ltd.
Israel
GK8 LLC
Delaware
Galaxy Digital Mining LLC
Delaware
Galaxy DBL, LLC
Delaware
GalaxyOne Prime LLC
Delaware
Galaxy Digital Partners LLC
New York
Galaxy Digital Trading Cayman LLC
Cayman Islands
Galaxy Digital Capital Management LP
Cayman Islands
* As of December 31, 2025. Unnamed subsidiaries, considered in the aggregate as a single subsidiary, did not constitute a significant subsidiary as of the year ended December 31, 2025.