Galaxy, Multicoin, and Jump Plan $1B Solana Treasury Vehicle

A consortium of major crypto investment firms - Galaxy Digital, Multicoin Capital, and Jump Crypto - is in discussions to raise around $1 billion to establish a large-scale Solana (SOL) treasury, Bloomberg reported.

Building the Largest SOL Treasury

The initiative would create what sources describe as the largest dedicated treasury for Solana to date. To achieve this, the group is considering forming a publicly listed company, allowing the vehicle to operate much like a corporate treasury with traditional financing tools.

Cantor Fitzgerald’s Role

Cantor Fitzgerald has reportedly been tapped as lead banker on the effort. According to discussions, the plan could involve a takeover of an existing listed entity, giving the project a ready-made structure to expand holdings and provide exposure through equity markets.

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Modeled on Corporate Treasury Structures

The contemplated framework resembles conventional corporate treasury mechanics, where public equity capital and financing tools – such as convertibles or private investment in public equity (PIPE) deals – are used to scale asset exposure. In this case, those methods would be applied to accumulate and manage a significant Solana reserve.

If finalized, the treasury could represent a landmark move for institutional involvement in Solana, cementing the blockchain’s role as one of the leading alternatives in the Layer 1 ecosystem.