Solana News Today: Wall Street Giants Push $1 Billion Solana Token Reserve Via SPAC Move

Wall Street’s top financial firms are accelerating their commitment to Solana (SOL) through a proposed $1 billion initiative aimed at acquiring a large reserve of the token. Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly in advanced discussions to secure this funding by taking over an existing listed company and converting it into a digital asset vehicle focused solely on Solana [1]. Cantor Fitzgerald is advising on the financial structure of the deal. If completed, this reserve would become the largest of its kind dedicated to Solana, signaling a significant institutional endorsement of the blockchain platform.

The move reflects growing confidence in Solana’s ability to challenge Ethereum’s dominance in the smart contract space. Over the past months, Solana’s token price has doubled, and its high throughput and low fees have attracted developers and enterprise users. The Solana Foundation, based in Zug, Switzerland, is believed to have supported the plan, adding further credibility to the effort. By building a large treasury, institutions are following a strategy similar to that of Ethereum and MicroStrategy, where mass token accumulation serves as both a financial and strategic signal [1].

Momentum has already been building around Solana-focused treasury strategies. Earlier this year, Mercurity Fintech Holding secured a $200 million credit line to increase its Solana holdings, while Classover Holding agreed to a $550 million deal with Solana Growth Ventures, triggering a 40% jump in its stock price. These actions show that corporate players are beginning to treat Solana the way they once treated Bitcoin—viewing it as a long-term asset with governance and market influence [1].

A $1 billion Solana reserve would not just be a financial investment. It could shape liquidity dynamics, influence governance proposals, and guide development priorities within the ecosystem. Given the current competitive landscape, such a move would likely elevate Solana’s standing and reinforce its position as a top-tier blockchain platform.

Source: [1] From $2.98 Peak to $0.36: Pi Coin's Market Rollercoaster ... (https://coindoo.com/from-2-98-peak-to-0-36-pi-networks-market-rollercoaster-and-whats-next-in-2026/)