Catenaa, Thursday, August 28, 2025- Galaxy Digital, Jump Crypto and Multicoin Capital are in talks to raise $1 billion to launch a digital asset treasury company centered on Solana, the Bloomberg reported.
The firms plan to acquire a publicly traded company and convert it into a Solana-focused treasury business, with the deal expected to close in early September.
Cantor Fitzgerald LP has been tapped as lead banker.
The Solana Foundation, which supports development of the blockchain network, is also backing the initiative, according to the report.
Industry analysts say the move could tighten Solana supply and lift its price while reinforcing institutional confidence in the ecosystem.
The initiative mirrors strategies pioneered by MicroStrategy CEO Michael Saylor, who turned corporate treasuries into large-scale bitcoin holders.
While most companies with digital asset reserves concentrate on bitcoin and ether, more are diversifying into Solana, BNB and XRP.
Public companies currently hold about 3.44 million SOL, according to The Block’s data, with Upexi leading after securing a $500 million credit agreement last month to expand its holdings.
Solana, now the sixth largest cryptocurrency, has surged in adoption thanks to decentralized finance applications and last year’s memecoin boom.
