Is $SOL the next target for crypto treasuries after $ETH ?

According to Bloomberg, Galaxy Digital, Jump Crypto, and Multicoin Capital are planning to raise $1 billion to establish a SOL treasury company, with backing from the Solana Foundation.

Their plan is to acquire a publicly listed company and convert it into a crypto treasury business, with the deal expected to close in early September 2025. Financial giant Cantor has been tapped as the lead banker for the transaction.

Currently, publicly traded companies hold about 3.44M $SOL (~$680M). Upexi leads with 2M SOL, followed by DeFi Dev (1M SOL) and Sol Strategies (400K SOL).