Galaxy, Jump Crypto, and Multicoin Capital are joining forces to raise $1 billion to create the largest Solana treasury in crypto history.
Key Takeaways
- Galaxy Digital, Jump Crypto, and Multicoin Capital are collaborating to raise $1 billion to buy and hold Solana (SOL).
- The firms aim to take over a publicly traded company and turn it into a dedicated Solana treasury firm.
- The Solana Foundation is officially backing the initiative.
- If successful, the project would surpass all existing Solana treasuries, including those held by Upexi and DeFi Development Corporation.
What Happened?
Three major crypto investment firms are planning a bold move to reshape Solana’s corporate ownership landscape. Galaxy Digital, Jump Crypto, and Multicoin Capital have teamed up to raise $1 billion for the creation of a Solana-focused digital asset treasury company. The move is intended to consolidate large-scale SOL holdings under a single publicly traded entity, with a closing date expected by early September.
Galaxy, Jump and Multicoin’s $1B Solana Bet
The plan involves acquiring an existing publicly listed company and transforming it into a Solana treasury vehicle. According to Bloomberg, the trio has brought on Cantor Fitzgerald LP as the lead banker to facilitate the deal.
Galaxy Digital, Multicoin & Jump look to Raise $1B for Solana Treasury Company: Bloomberg pic.twitter.com/5YZqNElv8M
— matthew sigel, recovering CFA (@matthew_sigel) August 25, 2025
This initiative mirrors corporate crypto treasury strategies seen in Bitcoin, most notably through Michael Saylor’s MicroStrategy, which pioneered the large-scale adoption of crypto on balance sheets. But instead of Bitcoin, this new venture focuses exclusively on Solana, currently ranked the sixth-largest cryptocurrency by market cap.
Key facts:
- The combined entity will reportedly acquire SOL on a massive scale, positioning itself as the largest institutional holder of the token.
- The Solana Foundation has endorsed the plan, signaling official support from the blockchain’s core leadership.
- The fund’s size would more than double the holdings of the current largest SOL corporate treasury.
How It Compares to Existing Solana Treasuries
Currently, the biggest known Solana treasury is held by Upexi, a supply chain management firm with 2 million SOL, valued at around $400 million. Upexi uses staking and token locking strategies to enhance value for stakeholders.
Close behind is the DeFi Development Corporation, which recently disclosed holding 1.29 million SOL, estimated at $240 million. Meanwhile, Bit Mining is also entering the SOL space, planning to raise up to $300 million for its own Solana reserve.
If the $1 billion initiative from Galaxy, Jump and Multicoin goes forward, it would eclipse all of these efforts, signaling a major institutional shift toward Solana as a treasury asset.
Why Solana?
Solana has attracted increasing attention from developers, investors, and institutions. Its fast transaction speeds and growing ecosystem, particularly in DeFi and memecoin markets, have helped it gain traction.
Recent data shows:
- Solana is currently trading near $197, up 4.9% in the past month and 24.3% over the past year.
- Public companies reportedly hold around 3.44 million SOL in total, led by Upexi.
- A potential Nasdaq listing for the restructured treasury company, currently trading in Toronto as SOL Strategies, is also underway.
CoinLaw’s Takeaway
In my experience, institutional support like this is a huge vote of confidence in a network’s long-term potential. Galaxy, Jump and Multicoin going in with a billion-dollar war chest tells me they see Solana not just as a promising project but as a strategic digital reserve asset. This move could reshape how altcoins like Solana are perceived in corporate finance. It is also an open challenge to Bitcoin and Ethereum’s dominance in the treasury game. I found it especially interesting that the Solana Foundation itself is backing the project. That kind of endorsement is rare and signals deeper alignment between protocol and capital.
