Institutions Circle Solana as Firms Plan Billion-Dollar Token Reserve

Galaxy Digital, Multicoin Capital, and Jump Crypto are in advanced talks with potential backers to raise about $1 billion for what could become the largest treasury dedicated to solana.

According to the Bloomberg report, the firms have tapped Cantor Fitzgerald LP as lead banker on the deal, intending to create a digital asset treasury company by acquiring a publicly traded entity. The proposed fund would focus exclusively on accumulating and holding solana at scale, a move designed to stabilize price dynamics while signaling confidence in the blockchain’s long-term trajectory.

Solana has gained traction as one of the fastest and most cost-efficient layer-1 networks, powering decentralized exchanges, NFT markets, and consumer-facing applications. By pooling institutional capital into a $1 billion reserve, the three firms would not only take a sizable position in Solana’s ecosystem but also set a precedent for structured, Wall Street-style investment vehicles in crypto.

A crypto treasury of this magnitude can absorb supply during periods of volatility, reduce selling pressure, and provide developers and investors greater confidence to build on Solana. For Galaxy, Multicoin, and Jump Crypto, the initiative represents both a bet on Solana’s technical edge and an effort to shape its financial infrastructure.

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