alaxy, Jump and Multicoin to build $1B Solana treasury
Galaxy Digital, Multicoin Capital and Jump Crypto are reportedly planning to raise $1 billion to acquire Solana (SOL). According to a Bloomberg report citing anonymous sources, the initiative would form the largest treasury ever dedicated to Solana.
The three companies have tapped Cantor Fitzgerald as their lead banker for the fundraising effort. The plan includes taking over a publicly traded entity to transform it into a digital asset treasury company focused on SOL.
The Solana Foundation has endorsed the initiative, lending institutional support to the effort.
Solana’s position in the market
Solana remains the sixth-largest cryptocurrency by market capitalization, trading near $200 with a 6.6% increase over the last 30 days, according to CoinGecko.
If successful, the $1 billion treasury would more than double the size of the largest existing Solana reserve, strengthening confidence in the network as it continues to recover from the aftermath of the FTX collapse.
Existing major Solana treasuries
Currently, Upexi, a supply chain management brand, holds the largest corporate Solana treasury with over 2 million SOL valued around $400 million. Upexi leverages staking yields and discounted locked Solana tokens to generate value for its stakeholders.
DeFi Development Corporation ranks second, holding 1.29 million SOL worth about $240 million.
Meanwhile, Bitcoin mining firm Bit Mining recently announced a strategic pivot to Solana, with plans to raise $200–$300 million to create a SOL reserve.
The road ahead
The combined push from Galaxy, Multicoin and Jump Crypto would eclipse existing reserves, marking the largest coordinated corporate move into Solana to date. If executed, the fund would establish Solana as one of the most significant assets in institutional crypto treasuries.
