Solana’s Ambitious $1 Billion Fundraising Initiative: A Collaborative Effort by Leading Crypto Firms
In a significant development for the cryptocurrency landscape, three prominent firms—Galaxy Digital, Multicoin Capital, and Jump Crypto—are reportedly in discussions with investors to raise approximately $1 billion for a treasury vehicle focused on Solana (SOL/USD). This initiative aims to establish the largest dedicated reserve for the Solana token to date, as outlined in a recent Bloomberg report.
The initiative is being structured with Cantor Fitzgerald LP serving as the lead banker, marking a notable collaboration among major players in the crypto industry. According to sources, the trio plans to create a digital asset treasury company by acquiring a yet-to-be-named publicly traded entity. If finalized, this ambitious move would result in a reserve that is more than double the size of any existing Solana-focused pool, potentially reshaping the ecosystem surrounding this blockchain.
As of 2025, Solana stands as the sixth-largest cryptocurrency by market capitalization, having experienced a remarkable surge of over 100% since April, even as it continues to trade below its January peak. The Solana Foundation, a nonprofit organization based in Zug that supports the blockchain, has reportedly endorsed this fundraising plan, further validating the initiative’s potential impact on the market.
The targeted completion date for this deal is early September 2025. However, at the time of reporting, Galaxy Digital, Multicoin Capital, Jump Crypto, Cantor Fitzgerald, and the Solana Foundation had not responded to requests for comment.
Interestingly, Upexi Inc., which pivoted its strategy earlier in the year to accumulate Solana tokens, has already amassed over 2 million tokens valued at approximately $415 million, as detailed on its website. This accumulation reflects a growing interest in Solana amidst the broader cryptocurrency market.
“Solana’s path has been volatile,” stated a Bloomberg source. “Once boosted by former FTX chief Sam Bankman-Fried, the token nearly collapsed during the exchange’s downfall in 2022. However, it has since rebounded and established itself as a popular blockchain for issuing meme coins.”
Both Multicoin and Jump Crypto have a history of investing in the Solana ecosystem, while Galaxy Digital previously raised $620 million to purchase Solana tokens from the FTX estate. This strategic accumulation of digital assets through publicly listed vehicles parallels earlier successful ventures, such as Michael Saylor’s Bitcoin hoard at MicroStrategy, which is currently valued at approximately $70 billion.
Furthermore, similar initiatives surrounding Ethereum (ETH/USD) have led to dedicated treasuries accumulating nearly $20 billion, which in turn has fueled price rallies. Recently, Ethereum broke a nearly four-year-old record high, attributed in part to institutional accumulation.
As the cryptocurrency market continues to evolve, the collaborative fundraising effort centered on Solana signifies a growing trend of institutional interest in blockchain technologies. This initiative not only highlights the potential for significant financial backing but also underscores the resilience of Solana as it navigates the complexities of the digital asset landscape.
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