Solana News Today: Galaxy Digital, Multicoin, Jump Crypto to Raise $1 Billion for Solana Treasury Fund

Galaxy Digital, Multicoin Capital, and Jump Crypto are in advanced discussions to raise approximately $1 billion in funding to acquire a large quantity of Solana (SOL) tokens, according to multiple reports [1][2][3]. The three major crypto investment firms aim to consolidate the largest Solana treasury fund to date, signaling increased institutional interest in the blockchain network, which positions itself as a high-performance alternative to Ethereum.

The initiative involves acquiring a publicly traded entity to serve as a vehicle for the digital asset treasury, according to a report from The Block [2]. This would allow the new entity to hold and manage the Solana tokens in a structured and regulated manner, potentially opening the door for broader institutional investment and greater market acceptance. Galaxy Digital, already a publicly traded company on NASDAQ (GLXY), could attract traditional investors seeking exposure to digital assets through a regulated structure [1].

Up to now, the largest existing Solana treasury entities include Upexi, Defi Dev, and Sol Strategies, with Arthur Hayes-backed Upexi holding over 2 million SOL, valued at over $390 million [3]. The new Galaxy-backed treasury is expected to surpass these entities significantly, potentially becoming more than twice the size of the current largest Solana-focused reserve. Cantor Fitzgerald LP has been selected as the lead banker for the transaction, which is expected to be finalized in early September [3].

This effort aligns with the broader trend of institutional adoption in the crypto space, with major players increasingly deploying capital into specific blockchain projects to support their growth and adoption. Multicoin Capital, a key early investor in Solana, led a $20 million Series A round in 2019 that helped fund the blockchain’s initial development [3]. The Solana Foundation is reported to endorse the initiative, further reinforcing confidence in the project’s long-term viability.

The proposed fund could increase demand for Solana, which may exert upward pressure on its price, given the relatively concentrated supply of the token and the current dynamics of the broader crypto market. Analysts view the move as a strategic effort to bolster Solana’s position in the rapidly evolving decentralized finance (DeFi) and blockchain ecosystems [6].

Sources:

[1] Galaxy, Jump, Multicoin Seek $1 Billion for Buying Solana (https://www.bloomberg.com/news/articles/2025-08-25/galaxy-jump-multicoin-seek-1-billion-for-buying-solana-token)

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

[3] Galaxy Digital, Multicoin, and Jump Crypto in talks to raise ... (https://cryptobriefing.com/solana-treasury-fund-initiative/)

[4] Galaxy Digital, Multicoin, Jump Crypto reportedly eye $1B ... (https://seekingalpha.com/news/4488623-galaxy-digital-multicoin-jump-crypto-reportedly-eye-1b-solana-fund)

[5] Galaxy Jump Multicoin to Raise $1 Billion for Solana ... (https://www.ainvest.com/news/solana-news-today-galaxy-jump-multicoin-raise-1-billion-solana-treasury-firm-2508/)

[6] Galaxy, Jump and Multicoin team up to buy $1b Solana (https://crypto.news/galaxy-jump-and-multicoin-team-up-to-buy-1b-solana/)