Solana News Today: Galaxy Digital Multicoin Jump Crypto Raise $1 Billion for Largest Solana Treasury

Galaxy Digital, along with Multicoin Capital and Jump Crypto, is in advanced talks to raise approximately $1 billion for a new Solana (SOL) treasury initiative. The firms are working with Cantor Fitzgerald as the lead banker to structure the deal, which may involve creating a digital asset treasury firm focused on acquiring and managing a significant portion of Solana tokens [1]. The initiative has received backing from the Solana Foundation, a Switzerland-based nonprofit that supports the development of the Solana blockchain [1].

According to sources, the transaction could close as early as September 2025, with the firms considering the acquisition of an unidentified publicly traded entity to restructure as a vehicle for the Solana treasury [1]. If completed, the proposed fund would become the largest institutional Solana treasury, surpassing existing funds by more than twice in size [1]. This represents one of the most substantial institutional bets on the Solana ecosystem and reflects growing confidence in the blockchain’s potential in decentralized finance (DeFi) and broader financial applications [1].

The development follows a period of significant recovery for Solana, which had faced uncertainty following the collapse of FTX in late 2022. At one point, the price of SOL dropped to as low as $9. However, since then, the token has rebounded by over 2,066%, reaching a current price of around $195 [1]. As of early August 2025, Solana’s market capitalization stood at $108.9 billion, making it the sixth-largest cryptocurrency by market cap [1]. The token has gained 7.7% in the past month and 26.8% year-to-date [1]. This performance has made Solana an attractive platform for issuing memecoins and speculative tokens, many of which are driven by social media trends.

This new treasury initiative is not the first of its kind in the Solana ecosystem. Earlier in 2025, Upexi Inc., a Florida-based e-commerce firm that shifted its focus to Solana, reported holding more than 2 million tokens valued at around $415 million [1]. Additionally, the new consortium plans to take over Toronto-listed SOL Strategies, a firm that has filed for a Nasdaq listing under the ticker STKE [1]. SOL Strategies is considered a more conservative approach to token acquisition but has been recognized for its forward-thinking strategies in ecosystem development [1].

Cantor Fitzgerald analyst Thomas Shinske highlighted in a June investor note that Solana is gaining attention from financial institutions beyond its role in memecoins. He noted the potential for Solana to benefit from the growing adoption of tokenized securities and the advantages of staking, which could enhance returns for treasury-focused firms [1]. According to Shinske, the combination of staking and treasury operations may enable Solana-focused firms to grow faster on a per-share basis compared to those focused on Bitcoin [1].

Galaxy Digital, Multicoin Capital, and Jump Crypto have all previously shown strong support for Solana. Last year, Galaxy Digital raised approximately $620 million for a fund to purchase Solana from the FTX estate, further demonstrating institutional confidence in the blockchain [1]. With the latest move, the three firms are reinforcing their positions and signaling broader institutional interest in Solana’s future.

The proposed $1 billion fund could reduce the circulating supply of SOL by increasing institutional demand, potentially strengthening price support and enhancing market sentiment [1]. It also aligns with a larger trend in the crypto industry, where firms are adopting corporate treasury strategies using altcoins. The combined influence of Galaxy, Multicoin, Jump, and the Solana Foundation could lead to a significant expansion of institutional participation in the ecosystem.

As the industry continues to evolve, the success of the new Solana treasury initiative could further solidify the blockchain’s leadership in DeFi and attract more developers and investors. With institutional backing and a strong market recovery, Solana appears well-positioned to maintain its momentum in the coming months.

Source:

[1] The Block – Galaxy, Jump and Multicoin seek $1 billion to create Solana treasury firm – [https://www.theblock.co/post/368081/galaxy-jump-multicoin-solana-treasury](https://www.theblock.co/post/368081/galaxy-jump-multicoin-solana-treasury)

[2] CoinDesk – Crypto Giants Galaxy, Jump, Multicoin Look to Raise $1B – [https://www.coindesk.com/business/2025/08/25/crypto-giants-galaxy-jump-and-multicoin-seek-usd1b-to-raise-largest-solana-treasury-report](https://www.coindesk.com/business/2025/08/25/crypto-giants-galaxy-jump-and-multicoin-seek-usd1b-to-raise-largest-solana-treasury-report)

[3] Cointelegraph – Galaxy Digital, Multicoin, Jump Crypto plan $1B Solana fund – [https://cointelegraph.com/news/galaxy-digital-multicoin-jump-crypto-1b-solana-treasury](https://cointelegraph.com/news/galaxy-digital-multicoin-jump-crypto-1b-solana-treasury)

[4] FinanceFeeds – Galaxy Digital And Multicoin Seek To Build Largest Solana Treasury – [https://financefeeds.com/galaxy-digital-and-multicoin-seek-to-build-largest-solana-treasury-with-1b-fundraise/](https://financefeeds.com/galaxy-digital-and-multicoin-seek-to-build-largest-solana-treasury-with-1b-fundraise/)