Bloomberg reports that Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise $1 billion for a Solana token fund. The initiative would acquire Solana (SOL) and support its ecosystem, underscoring growing institutional interest as blockchain competition intensifies.

$1B Treasury in Motion

According to Bloomberg, the fund is being structured by purchasing an already-listed company and repurposing it into a digital-asset treasury, with Cantor Fitzgerald managing the process. The Solana Foundation has publicly supported the proposal, adding legitimacy within the community. Insiders say the deal could close as early as September, depending on regulatory clearance and broader market conditions.

If successful, the treasury would surpass existing corporate Solana holdings. Upexi, a U.S.-based Solana treasury company, recently disclosed holdings of just over 2 million SOL (about $334 million), while DeFi Development Corp controls around 1.29 million SOL (roughly $240 million). A $1 billion fund would establish a new benchmark for institutional participation.

Why Solana?

Institutions are increasingly drawn to Solana, currently valued at $197.28 with daily trading volume at $13.24 billion, according to CoinMarketCap. Its high throughput, expanding DeFi ecosystem, and active developer community continue to attract attention.

The proposed fund would mark one of the largest institutional moves outside Bitcoin (BTC) and Ethereum (ETH), signaling confidence in altcoins with strong adoption momentum.

Broader Implications

Analysts see the initiative as a shift toward high-performance blockchains like Solana, though they caution long-term growth still hinges on ecosystem expansion and real-world adoption. The scale of this treasury highlights that institutional demand is broadening beyond Bitcoin and Ethereum into next-generation blockchain networks.