In a move to strengthen Solana’s ecosystem, Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly seeking to raise $1 billion to build the largest Solana-focused treasury to date, Bloomberg reported.
The three firms have tapped Cantor Fitzgerald as lead banker to structure the deal, which involves buying out a listed company and transforming it into a Solana treasury vehicle.
The initiative mirrors Michael Saylor’s corporate bitcoin strategy, signaling growing adoption of dedicated digital asset treasuries.
According to the report, the deal has already received approval from the Solana Foundation and is expected to close by early September. Once complete, the new entity will acquire Toronto-listed SOL Strategies, which recently filed for a Nasdaq listing.
With backing from top-tier crypto investors, the fund aims to create robust institutional exposure to Solana’s ecosystem, further cementing SOL’s role as one of the most prominent blockchain assets competing with Ethereum.
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