Galaxy Digital has acquired roughly $300 million worth of Solana (SOL) over the past 24 to 30 hours, signaling a deeper institutional push into the Solana ecosystem.
Key Takeaways
- Galaxy Digital purchased $300 million in SOL tokens via Coinbase, Binance, and Bybit in the past 24-30 hours
- Over five days, Galaxy acquired approximately 6.5 million SOL worth $1.57 billion
- Much of the purchased SOL has been moved to Fireblocks custody wallets, indicating long-term holding
- The move aligns with Galaxy’s involvement in a $1.65 billion private placement for Solana treasury firm Forward Industries
What Happened?
Galaxy Digital has stepped up its involvement in the Solana ecosystem with a massive SOL acquisition spree across major centralized exchanges. According to onchain data from Arkham Intelligence and Lookonchain, Galaxy has bought approximately $300 million worth of SOL in the past 24 hours alone, totaling around 6.5 million SOL over five days. Most of these assets have since been transferred to Fireblocks, a leading crypto custody platform, reinforcing a long-term strategic posture.
Galaxy Digital bought another 1.2M $SOL($306M) in the past 24 hours.
— Lookonchain (@lookonchain) September 15, 2025
Their total buys over the past 5 days have now reached ~6.5M $SOL($1.55B).https://t.co/f4FXOfK0vJ pic.twitter.com/NQ9da23mzm
Galaxy Goes Big on Solana
The purchases took place across 15 transactions on Coinbase, Binance, and Bybit, with Arkham tracking 1.24 million SOL acquired in just the last day. Over the course of five days, Galaxy’s total SOL haul reached 6.5 million tokens, worth about $1.57 billion at current prices.
This aggressive buying comes at a time when Solana’s price has seen a minor dip. SOL fell 3.8 percent in the past 24 hours to around $233.74, despite Galaxy’s accumulation. This underlines how even large institutional inflows may not always buffer short-term price swings.
Fireblocks Custody and Long-Term Strategy
A key signal of Galaxy’s intentions lies in where the SOL went after purchase. Most of the tokens have been transferred to custody wallets on Fireblocks. As one of the most trusted custody solutions in the crypto space, Fireblocks is favored by institutional players seeking secure storage and operational control over their digital assets. This move suggests Galaxy is preparing for long-term participation rather than short-term trading.
Strategic Tie-In With Forward Industries
Galaxy’s Solana accumulation coincides with its leadership role in a $1.65 billion private placement for Forward Industries (FORD), a Nasdaq-listed Solana digital asset treasury firm. Alongside Jump Crypto and Multicoin Capital, Galaxy subscribed to over $300 million of the offering.
The partnership aims to bolster Forward Industries into becoming a dominant institutional player in the Solana space. While some observers have linked Galaxy’s SOL buys to Forward Industries’ treasury strategy, the relationship has not been officially confirmed.
Solana’s Institutional Appeal Rising
This latest wave of investment underscores a broader trend of growing institutional interest in Solana. The blockchain is gaining traction due to its high throughput, low transaction costs, and continued technical upgrades. With Solana becoming increasingly attractive to developers and investors alike, large entities like Galaxy are positioning early for the next wave of growth.
Galaxy CEO Mike Novogratz has also publicly backed Solana’s momentum, recently referring to the current market climate as a “season of Solana.” This reinforces the firm’s confidence in SOL as a key player in the evolving crypto landscape.
CoinLaw’s Takeaway
I found Galaxy’s timing here to be particularly telling. Despite market dips, they’re buying big and moving assets into long-term custody. That’s not a short-term flip. That’s a bet on Solana’s future. In my experience, when institutions make quiet but significant plays like this, they’re usually early to something the market hasn’t fully priced in yet. Whether it’s the tech upgrades or Solana’s ecosystem momentum, Galaxy seems to be all-in. And that speaks volumes.
