Solana News Today: "Wall Street Bets Big on Solana’s Resurgence with $1B Treasury Play"

A coalition of Wall Street’s leading digital asset firms—Galaxy Digital, Multicoin Capital, and Jump Crypto—are in advanced talks to raise $1 billion for a dedicated Solana (SOL) treasury, according to multiple sources. This initiative, supported by lead banker Cantor Fitzgerald LP, aims to create the largest publicly traded Solana reserve, surpassing existing corporate holdings by a significant margin. The structure involves acquiring a publicly traded entity and converting it into a digital asset treasury vehicle, a strategy that mirrors the growing trend of institutional investors using traditional financial frameworks to hold and manage cryptocurrency assets.

The combined $1 billion Solana treasury would more than double the current largest corporate Solana holdings, which are held by companies like Upexi and DeFi Development Corp. As of the latest data, Upexi has accumulated over 2 million SOL tokens, valued at approximately $400 million, while DeFi Development Corp. holds 1.29 million SOL, valued at $240 million. The new Solana-focused treasury is expected to close in early September 2025 and has received backing from the Solana Foundation, a nonprofit based in Zug, Switzerland. This institutional alignment underscores Solana’s growing appeal among major crypto and traditional finance players.

The timing of the move aligns with broader market dynamics. Solana has experienced a resurgence in popularity after a period of uncertainty following the 2022 collapse of FTX, a major player that had championed the network. Despite a recent 2.7% drop in its price on Monday, Solana remains the sixth-largest cryptocurrency by market capitalization, with a current price near $200. This resilience has been attributed in part to the rise of memecoins and decentralized finance (DeFi) applications on the Solana blockchain, which have drawn speculative and institutional interest alike.

The Solana treasury initiative is part of a broader trend of corporate entities building balance sheet exposure to digital assets. Firms such as Upexi and DeFi Development Corp. have already begun staking their holdings to generate yields, adding an additional layer of value creation for stakeholders. Galaxy Digital, which has previously raised $620 million to purchase Solana tokens from the FTX estate, is now positioned to take a larger stake in the network through this new vehicle. The firm’s chief executive, Michael Novogratz, has recently expressed concerns about the sustainability of the current market dynamics, suggesting that the trend of new entrants may be reaching a peak.

The potential $1 billion Solana treasury is expected to have a significant impact on the market, similar to the effect seen with Ether-focused digital treasury companies (DATs). According to one estimate, DATs have accumulated around $20 billion worth of Ether, contributing to recent price rallies. A similar concentration of institutional demand for Solana could further bolster its price and adoption, especially as on-chain activity continues to shift toward Solana’s high-throughput network. According to OKX’s State of DEX 2025 report, Solana accounted for nearly 48% of decentralized exchange volume in the second half of 2025, driven largely by smaller retail transactions, while larger institutional trades have remained more Ethereum-centric.

As the market braces for the potential listing of this new Solana treasury vehicle, regulatory and market risks remain. The structure of the acquisition—leveraging public equity and financing tools to scale crypto exposure—introduces execution risks that are typical in traditional markets. However, the precedent set by Cantor Fitzgerald-backed structures, such as the Bitcoin Standard Treasury Company, indicates that such models are becoming increasingly viable. If the deal closes as expected, it would establish a clear template for future altcoin treasury structures and potentially create an equity proxy for investors who cannot directly hold the token.

Source:

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

[3] 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)

[4] Galaxy, Jump, and Multicoin align on $1B Solana treasury (https://blockworks.co/news/galaxy-jump-multicoin-1b-solana-treasury)

[5] Wall Street giants plot $1 billion Solana treasury set to (https://cryptoslate.com/wall-street-giants-plot-1-billion-solana-treasury-as-dex-volumes-surge/)

[6] Solana Price, SOL Price, Live Charts, and Marketcap (https://www.coinbase.com/en-gb/price/solana)

[7] Solana Crypto Coin Price Today (SOL) (https://www.investing.com/crypto/solana)

[8] SOL Coin Price (Live Solana Statistics) (https://delta.app/en/crypto/solana/)