Galaxy Digital, Multicoin, and Jump Crypto Target $1B Solana Treasury Fund

• Galaxy Digital, Multicoin, and Jump Crypto aim to raise $1B for Solana.
• Cantor Fitzgerald tapped as lead banker for the fund.
• Plan involves takeover of a public company to form a Solana treasury entity.
• Solana Foundation backs the initiative.
• $1B reserve would more than double current largest SOL holdings.
• Upexi currently holds ~2M SOL ($400M), the largest corporate treasury.
• DeFi Development Corp and Bit Mining also building large SOL reserves.
• SOL trades near $200, up 6.6% over the past month.

Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly working on a landmark plan to raise $1 billion to build the largest-ever corporate Solana (SOL) treasury, with Cantor Fitzgerald tapped as the lead banker. According to a Bloomberg report citing anonymous sources, the initiative could reshape how institutional players view Solana’s role in the post-FTX recovery phase.

The plan reportedly involves taking over a publicly traded entity to create a dedicated digital asset treasury company focused solely on Solana. Backed by the Solana Foundation, the effort signals deep institutional confidence in Solana’s ecosystem, which has continued to recover despite recent market turbulence. At the time of writing, Solana remains the sixth-largest cryptocurrency by market capitalization, trading at nearly $200 after gaining 6.6% over the last 30 days, according to CoinGecko.

A $1 billion Solana treasury would dwarf existing corporate reserves and send a powerful message about Solana’s long-term potential. Currently, Upexi, a supply chain management brand, holds the largest SOL corporate treasury with over 2 million tokens—worth about $400 million at current prices. Upexi has also emphasized staking yields and discounted locked tokens to generate additional value for stakeholders. Meanwhile, the DeFi Development Corporation recently disclosed holdings of 1.29 million SOL, valued at $240 million, positioning it as the second-largest known corporate SOL holder.

Other firms are also pivoting toward Solana. In July, Bitcoin miner Bit Mining revealed plans to raise between $200 million and $300 million to establish its own Solana reserve, marking a strategic shift away from Bitcoin. Despite these moves, the combined efforts still pale in comparison to the proposed $1 billion push by Galaxy, Multicoin, and Jump. If completed, their treasury would more than double the size of Upexi’s holdings, establishing the single-largest corporate SOL reserve to date.

The significance of this development extends beyond just numbers. For Solana, which was heavily affected by its association with FTX, the fund represents renewed institutional trust. The blockchain has worked to rebuild its image through network upgrades, ecosystem growth, and a surge in developer activity. A billion-dollar treasury led by three of the most recognized names in digital assets could help cement Solana’s standing as a core institutional asset, similar to Bitcoin and Ethereum.

Bloomberg also reported that the Solana Foundation has endorsed the treasury plan, further strengthening confidence in its legitimacy. If implemented, the fund could offer both stability and liquidity to Solana’s ecosystem while boosting market perception of its resilience.

Galaxy Digital, led by Mike Novogratz, has previously invested heavily in infrastructure projects across major blockchains, while Multicoin Capital has long been known as a vocal backer of Solana. Jump Crypto, despite facing scrutiny in the wake of the Terra collapse, remains one of the most influential trading and infrastructure firms in the industry. Their combined backing creates a formidable institutional presence behind Solana at a time when investor confidence is critical.

For the broader market, the timing of this initiative could be key. Solana’s price has seen strong recovery momentum in 2025, with increased adoption in DeFi, NFTs, and real-world applications. If Galaxy, Multicoin, and Jump succeed in raising the proposed fund, it could attract even more institutional interest to Solana, accelerating its path to mainstream adoption.

Final Thought

If Galaxy, Multicoin, and Jump succeed in their $1 billion push, it would not only eclipse existing corporate Solana holdings but also mark one of the strongest institutional endorsements of the network since its recovery phase, reinforcing Solana’s role as a growing treasury and infrastructure asset in the crypto economy.