Key Takeaways:
- Galaxy Digital, Multicoin, and Jump Crypto aim to raise $1B to acquire Solana, forming the largest SOL treasury to date.
- The strategy involves taking over a public company to build a Solana-focused investment vehicle.
- The Solana Foundation backs the plan, with Cantor Fitzgerald leading the deal, reflecting deeper ties between crypto and traditional finance.
Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly in the early stages of a major initiative to raise $1 billion to acquire Solana (SOL), aiming to build the largest SOL treasury to date.
According to a Bloomberg report citing unnamed sources, the firms plan to take over a publicly traded company to create a digital asset treasury vehicle focused on SOL. The structure would offer institutional investors a more direct and regulated way to gain exposure to the token.
Given the scale of the initiative, big names have been enlisted, with Cantor Fitzgerald reportedly appointed to lead the fundraising, bringing Wall Street backing to the table. Meanwhile, the Solana Foundation has endorsed the effort, signaling confidence in the long-term vision.
This initiative marks one of the most ambitious capital raises ever attempted on a single blockchain, highlighting growing institutional confidence in Solana as capital continues to shift across the wider crypto landscape.
Why This Initiative Matters
Galaxy Digital, Multicoin Capital, and Jump Crypto are among the most influential names in the digital asset space, each bringing distinct strengths to the initiative.
Galaxy Digital, led by former hedge fund manager Mike Novogratz, operates at the intersection of crypto and institutional finance, with a focus on asset management and trading. Multicoin Capital is a venture firm known for its early investments in Solana and other Layer 1 blockchains, while Jump Crypto is the digital asset division of Jump Trading, a major player in quantitative and high-frequency trading.
Their collaboration, alongside banking support from Cantor Fitzgerald and endorsement from the Solana Foundation, signals rising institutional interest in Solana’s long-term potential.
If successful, the planned treasury would become the largest Solana-specific capital pool to date, surpassing all known efforts in the ecosystem, including Upexi’s $400 million SOL reserve and the DeFi Development Corporation’s 1.29 million SOL holdings, valued at $240 million.
What This Means for Solana
A treasury of this scale could influence both SOL’s price and the broader Solana ecosystem.
Greater institutional exposure may boost demand, potentially pushing Solana to a higher price. However, the size of the fund could also introduce short-term volatility depending on how the assets are deployed.
More broadly, it could accelerate developer activity and infrastructure growth, signaling that serious capital is backing Solana’s long-term future.
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