TL;DR
- Galaxy Digital, Multicoin Capital, and Jump Crypto are in advanced talks to raise one billion dollars for a Solana-focused treasury initiative.
- The consortium is reportedly preparing to acquire a publicly listed company to convert it into a digital asset reserve anchored in Solana.
- The Solana Foundation and Cantor Fitzgerald are supporting the effort, which could boost institutional adoption, reduce market supply, and enhance developer activity around the network.
The race to expand institutional exposure to Solana appears to be accelerating. Galaxy Digital, Multicoin Capital, and Jump Crypto are working on a joint plan to raise one billion dollars for the creation of a Solana treasury firm. Reports suggest the strategy involves acquiring a publicly traded company and transforming it into a reserve structure dedicated to Solana.
Market observers believe this could establish Solana as the third major asset in corporate treasuries, following Bitcoin and Ethereum. By locking up significant supply, the venture could put upward pressure on Solana’s price and bring greater legitimacy to its ecosystem. The Solana Foundation is said to be supportive of the move, while Cantor Fitzgerald has been enlisted as lead banker.
Institutional Backing Expands Solana’s Appeal
The timing aligns with growing interest in blockchain infrastructure beyond the traditional dominance of Bitcoin and Ethereum. Solana has emerged as a fast, low-cost network powering decentralized finance, NFTs, and more recently, memecoin-driven activity. Its scalability and developer-friendly architecture have attracted venture funding and community-driven growth. With corporate treasury participation, institutional players could accelerate Solana’s integration into mainstream finance.
According to data, public treasury firms already hold around 3.44 million SOL, with Upexi making headlines recently after securing a $500 million credit line to purchase additional tokens. If Galaxy, Jump, and Multicoin succeed in raising the proposed fund, the scale would eclipse all prior treasury initiatives tied to Solana.
Strategic Positioning For The Next Cycle
This move reflects a broader shift among crypto institutions seeking diversification. Many early adopters concentrated on Bitcoin, then gradually allocated to Ethereum. Now, firms are scouting opportunities in networks like Solana, BNB, and XRP. By positioning Solana as a corporate reserve asset, the consortium could help define new treasury standards for altcoins.
At present, Solana stands as the sixth largest cryptocurrency globally, with a market capitalization of about $108.9 billion. It trades near $200, showing a 7.7% gain over the past month and a 26.8 percent rise across the past year. If the deal is finalized, the proposed treasury could reinforce Solana’s role as a long-term store of value for institutions exploring alternatives beyond Bitcoin and Ethereum.
