Galaxy Digital, Jump Crypto, and Multicoin Capital Push $1B Solana Treasury Initiative

Highlights:

• Three firms are planning a $1B Solana treasury to create one of the largest single-asset crypto funds.
• The proposal, if implemented, could influence the price and liquidity of Solana.
• Corporate treasuries are expanding beyond Bitcoin and Ethereum, with Solana gaining ground among major institutional players.

Galaxy Digital, Jump Crypto, and Multicoin Capital are raising $1 billion to create a large Solana-focused treasury, according to a Bloomberg report. The three firms are holding talks with investors while working on plans to acquire a publicly traded company. They intend to transform the acquired entity into a digital asset treasury business dedicated to Solana. This approach would allow the firms to consolidate resources and create one of the largest single-asset treasuries in the market.

Cantor Fitzgerald is acting as the lead banker for the transaction. The deal is expected to close in early September, giving the group a short timeline for execution. Market observers see the proposed fund as an extension of strategies pioneered by corporate treasuries that first concentrated on Bitcoin. While many firms still favor Bitcoin and Ethereum, Galaxy, Jump, and Multicoin are focusing on Solana because of its rapid growth and expanding use cases.

This coordinated initiative signals growing institutional interest in digital assets outside the two dominant cryptocurrencies. Analysts argue that the new raise of $1 billion is a testament to the belief in the potential of Solana remaining one of the top blockchain networks.

Institutional Interest Builds Around Solana Treasury

The Solana Foundation has already supported the plan, which lends credence to the campaign. Market analysts believe that creating an exclusive treasury would aid in decreasing the circulating supply of Solana. Nick Ruck, director at LVRG Research, said that institutional support of this scale could attract more developers and ecosystem projects.

This strategy mirrors a trend among corporate treasuries. MicroStrategy made the idea of owning Bitcoin popular among many businesses, but firms rapidly diversified into Solana, BNB, and XRP. Publicly traded companies currently possess over 6 million SOL, as per available data. One such project is Upexi, which has obtained a $200 million credit line to expand its Solana reserves. SOL Strategies holds more than 420,000 Solana tokens in its treasury and is preparing for a Nasdaq listing.

Solana has gained popularity owing to its scalability, low fees, and speed. It powers a wide range of decentralized finance platforms, gaming projects, and consumer-facing applications. The network also gained traction during last year’s surge in memecoin trading. As a result, institutional players are taking notice, and they now view Solana as a strong alternative to Ethereum.

Market Implications and Price Trends

The proposed treasury could influence the trajectory of SOL’s price. Meanwhile, none of the companies have confirmed the plans as of press time. At the same time, Solana’s price action has shown strong momentum. SOL is trading at $199.42 after dropping 4.16% in the past day. The trading volume has increased by 997.33% to $13.46 billion, signaling robust activity. Its market capitalization stands at $107.77 billion, and it has gained 10.45% in the past week and 5.49% in the past month.