Galaxy Digital, Multicoin, and Jump Crypto launch a $1 billion fund in Solana
15:15 ▪ 5 min read
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A group of leading firms in digital assets is preparing to form the largest Solana-focused treasury in the market. Galaxy Digital, Multicoin Capital, and Jump Crypto are working with Cantor Fitzgerald to raise $1 billion for SOL purchases, according to a Bloomberg report published on Monday.
In summary
Galaxy, Multicoin, and Jump seek $1B to build the largest Solana treasury.
Sharps Technology pivots, raising $400M to create a Solana reserve.
Solana price remains above $200 as institutional demand grows.
Galaxy, Multicoin, and Jump move to build a Solana treasury
The move comes as Solana continues to attract institutional attention and corporate treasuries increase their exposure to the token. Solana is currently trading near $200, securing its position as the sixth-largest cryptocurrency by market capitalization.
The reported plan involves creating a digital asset treasury company by taking control of a publicly traded entity. This new entity would focus on holding Solana as a key treasury asset. Bloomberg cited unidentified sources, adding that the Solana Foundation has backed the proposal.