Solana News Today: Galaxy Jump Multicoin to Raise $1 Billion for Solana Treasury

Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly in discussions to raise $1 billion to establish a new digital asset treasury firm focused exclusively on Solana’s native token, SOL [1]. The initiative, if successful, would create what could become the largest institutional Solana treasury in the market. The plan involves acquiring a publicly traded company and repositioning it as a Solana-focused treasury entity, with the deal expected to close as early as September [2]. Cantor Fitzgerald has been engaged as the lead banker for the transaction, according to Bloomberg sources [3].

The Solana Foundation, a nonprofit organization supporting the Solana blockchain, is reportedly endorsing the initiative, signaling broader institutional confidence in the network’s growth strategy [4]. The combined $1 billion in Solana reserves would significantly expand the current corporate holdings of the token, which are currently led by Upexi, holding more than 2 million SOL valued at approximately $400 million [5]. Another key corporate holder, the DeFi Development Corporation, holds 1.29 million SOL, worth about $240 million [6].

This move aligns with a growing trend among institutional investors to diversify corporate treasuries beyond Bitcoin and Ethereum into alternative cryptocurrencies like Solana, BNB, and XRP [7]. Solana, currently the sixth-largest cryptocurrency by market capitalization with a value of $108.9 billion, has seen its price rise by 7.7% in the past month and 26.8% in the past year [8]. Analysts suggest that institutional accumulation of Solana could drive upward pressure on the token’s price by reducing supply and reinforcing market sentiment, while also encouraging further developer activity and ecosystem investment [9].

The initiative also reflects a broader shift in the post-FTX crypto landscape, where firms are increasingly leveraging digital assets as strategic reserves. The strategic move by Bit Mining, a Bitcoin mining company planning to raise between $200 million and $300 million to build a Solana reserve, further highlights the token’s growing appeal as a corporate treasury asset [10]. This trend could help solidify Solana’s position in the institutional space and attract more traditional investors looking to gain exposure to high-performance blockchains.

Source:

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

[2] 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)

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

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