TL;DR
- Galaxy Digital has added 1.24 million Solana tokens worth around $300 million in just 24 hours, making one of the largest single-day SOL purchases this year.
- The company has accumulated more than 6.5 million SOL in the last five days, valued at nearly $1.6 billion.
- Analysts see this as part of a broader strategy to consolidate Galaxy’s position as a leader in institutional adoption of the Solana ecosystem.
Galaxy Digital has once again demonstrated its confidence in Solana by purchasing $300 million worth of SOL across 13 separate transactions. The acquisitions, carried out through Binance, Coinbase, and Bybit, highlight a continued trend of institutional interest in Solana, a blockchain that has become known for its scalability and low transaction costs.
In just five days, the firm has acquired over 6.5 million SOL, totaling an estimated $1.57 billion. Much of the newly acquired Solana has been transferred to custody wallets via Fireblocks, signaling a long-term holding strategy rather than short-term speculation.
Strengthening Institutional Ties In The Solana Ecosystem
Galaxy Digital’s activity coincides with a new treasury initiative involving Jump Crypto and Multicoin Capital. Together, the three firms are backing Forward Industries with $1.65 billion in capital and stablecoins. The move is designed to elevate Forward Industries as a publicly traded institutional leader within the Solana ecosystem, combining financial strength with deep participation in decentralized finance and tokenized assets.
Forward’s CEO, Michael Pruitt, described Solana as one of the most innovative blockchain platforms in the world. This sentiment has been echoed by Galaxy CEO Mike Novogratz, who has called the current phase the “season of Solana,” pointing to regulatory progress and the platform’s unmatched capacity for high-speed, low-cost transactions.
Regulatory Shifts And Market Momentum
Novogratz also referenced recent remarks by SEC Chair Paul Atkins, who suggested that most crypto tokens should not be considered securities and that capital-raising on-chain must become less burdensome. If such regulatory clarity is realized, institutional adoption of assets like Solana could accelerate further, reinforcing the argument that blockchain technology is now prepared for mainstream financial integration.
Market analysts share a bullish outlook. Bitwise CIO Matt Hougan has highlighted the possibility of Solana ETFs being approved later this year, which could lead to additional inflows similar to those seen in Bitcoin and Ethereum. With its millisecond finality, low fees, and streamlined architecture, Solana is increasingly being recognized as a blockchain designed for the next generation of digital finance.
At the time of writing, Solana trades at approximately $243, posting double-digit gains over the past week and strong upward momentum in the last month.
