Galaxy Digital, Jump Crypto Plots $1B Solana Treasury Firm

Galaxy Digital, Jump Crypto, and Multicoin Capital are in advanced talks to raise $1 billion for a new venture. According to Bloomberg, the institutional investors are preparing to build a digital asset treasury company designed around Solana (SOL). 

Instead of starting from zero, the group plans to acquire a publicly traded company and reshape it into a crypto treasury vehicle.

Turning Traditional Finance Into a Crypto Gateway

Acquiring an existing public company gives this venture an edge. It means that once the transition is complete, the treasury firm will already have a stock market presence. This is poised to provide investors with a familiar way to gain exposure to Solana without directly buying tokens. 

This approach echoes what U.S. U.S.-listed firm Strategy led by Michael Saylor achieved with Bitcoin (BTC) but places a new spotlight on an alternative blockchain. The investment bank Cantor Fitzgerald LP has been brought in to lead the transaction, and the deal is expected to close by early September.

If successful, this project could open a new path for traditional investors to enter the crypto space while also giving Solana a strong push into mainstream finance.

Solana Foundation Support Strengthens Treasury Initiative

Backing from the Solana Foundation, the nonprofit that steers the growth of the blockchain ecosystem, adds weight to the plan. 

This support is important because big institutional projects often struggle without community and ecosystem alignment. With the foundation involved, the treasury project is financially and strategically tied to Solana’s long-term growth.

While Bitcoin and Ethereum (ETH) still dominate corporate balance sheets, Solana is creating its own space. Solana is known for its large developer base, fast transactions, and low fees. These strengths have made it a hub for both decentralized finance (DeFi) projects and memecoin activity.

Today, Solana is the sixth-largest cryptocurrency, with a market value of about $109 billion and a trading price near $200. Over the past year, SOL has risen 26.8%, showing strong performance in a competitive market. 

$1B Solana Push Marks Shift Toward Diversified Crypto Treasuries

Experts believe the $1 billion investment could influence the entire market. Nick Ruck, director at LVRG Research, explained that large-scale accumulation may reduce available supply, raise confidence, and encourage more developers and investors to enter Solana’s ecosystem.

The move also reflects a broader trend where corporate treasuries are diversifying beyond Bitcoin. Ethereum has been the first alternative, but now Solana, BNB, and XRP are entering the mix. 

A recent report shows that public companies already hold 3.44 million SOL. The trend is led by Upexi, which recently secured a $500 million credit line to expand its holdings, after losing 60% of its share value in July.

This shows clearly that crypto treasuries are no longer a single-asset bet. Companies are building balanced portfolios across multiple blockchains.