Solana News Today: Galaxy Digital and Top Crypto Firms Target $1 Billion Solana Treasury Fund

Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly preparing to raise up to $1 billion for a dedicated Solana treasury, potentially creating the largest publicly traded fund focused on the Solana (SOL) token. The effort involves acquiring a publicly traded entity and repurposing it as a vehicle for large-scale accumulation of Solana, with a possible closing date as early as September 2025. Cantor Fitzgerald has been tapped as the lead banker on the deal [1].

This initiative signals a significant institutional commitment to Solana, which has emerged as one of the fastest and most cost-efficient layer-1 blockchains. The firms aim to create a structured reserve that could help stabilize Solana’s price by managing supply during periods of volatility and reducing selling pressure. It also seeks to provide greater confidence to developers and investors building on the network [2].

The move is supported by growing traction in Solana-based decentralized exchange (DEX) activity. According to OKX’s State of DEX 2025, Solana accounted for nearly 48% of DEX volume in smaller retail trades, highlighting its role in on-chain liquidity strategies [3]. Galaxy Digital, Multicoin, and Jump Crypto have all previously invested in Solana, with Galaxy launching Solana index-tracking funds in 2021, and Multicoin Capital long advocating for the network’s technical capabilities [4].

The proposed fund is expected to utilize convertible instruments or private investment in public equity (PIPEs) as part of its capital-raising strategy, aligning with broader trends in institutional adoption of blockchain infrastructure [5]. Other entities are also exploring Solana-focused treasury strategies, such as Upexi’s $100 million in discounted locked SOL and DeFi Development Corp.’s 846,000 SOL stake, emphasizing a broader trend in institutional-grade Solana accumulation [6].

If executed successfully, the fund could establish a new model for structured altcoin treasury management, offering an equity proxy for investors who cannot hold SOL directly. However, the project remains in the discussion phase and is subject to regulatory and market execution risks [7].

Sources:

[1] "Crypto Giants Galaxy, Jump, Multicoin Look to Raise $1B" - CoinDesk

https://www.coindesk.com/business/2025/08/25/crypto-giants-galaxy-jump-and-multicoin-seek-usd1b-to-raise-largest-solana-treasury-report

[2] "Institutions Circle Solana as Firms Plan Billion-Dollar Token Reserve" - Bloomberg

https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=galaxy-multicoin-jump-crypto-plan-1-billion-solana-treasury

[3] "What a $1 Billion Solana Treasury Play Would Mean for SOL" - Yahoo Finance

https://finance.yahoo.com/news/1-billion-solana-treasury-play-153814192.html

[4] "Wall Street giants plot $1 billion Solana treasury set to ..." - CryptoSlate

https://cryptoslate.com/wall-street-giants-plot-1-billion-solana-treasury-as-dex-volumes-surge/

[5] "Institutions Circle Solana as Firms Plan Billion-Dollar Token Reserve" - Bloomberg

[6] "Small medical firm plans $400 million Solana purchase as ..." - Fortune

https://fortune.com/crypto/2025/08/25/sharps-technology-solana-bitcoin-ethereum-parafi-pantera-coinfund/

[7] "Galaxy Digital, Multicoin, Jump Crypto reportedly eye $1B ..." - MSN

https://www.msn.com/en-us/money/other/galaxy-digital-multicoin-jump-crypto-reportedly-eye-1b-solana-fund/ar-AA1Laalu