A billion-dollar Solana reserve? Wall Street giants jump onto SOL
With support from the Solana Foundation and Cantor Fitzgerald, this massive treasury could turn things around for SOL.
Key takeaways
Top crypto firms are backing a massive SOL treasury plan that could dwarf all existing reserves. The project could turn SOL into a serious asset for institutional portfolios.
Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly teaming up on a bold move in the Solana [SOL] ecosystem.
A recent Bloomberg report stated that the trio is looking to raise a massive $1 billion to build the largest-ever Solana treasury.
Here’s what you need to know.
What’s going on?
If successful, the $1 billion reserve would eclipse existing corporate SOL treasuries by a wide margin.
The largest holder today is Upexi (a supply chain management brand) which recently disclosed owning over 2 million SOL — worth about $400 million.
The DeFi Development Corporation follows with 1.29 million SOL (roughly $240 million). Even Bitcoin [BTC] miner Bit Mining has shifted to Solana, announcing plans to raise up to $300 million for its own reserve.
Compared to these, this push would more than double the size of Upexi’s stash, creating an unmatched corporate Solana reserve.
Solana’s market strength adds context to this push: SOL, currently the sixth-largest cryptocurrency by market cap, is trading close to $200; up 6.6% over the last month.
How are they going about it?
The firms are said to be planning to take over a publicly traded entity to establish a digital asset treasury company focused solely on Solana.
Cantor Fitzgerald is leading the banking side of the deal. The effort has the support of the Solana Foundation, so it could bring great credibility to Solana as a treasury asset.
More than just another crypto reserve
This is significant for several reasons.
First, it would cement Solana’s position as a serious contender in the corporate treasury space, something previously dominated by Bitcoin.
Second, it builds momentum for Solana’s recovery after the FTX collapse, which had weighed heavily on the ecosystem.
Finally, having big names involved proves to both TradFi and crypto-native investors that Solana is here to stay.
If the plan goes through, the Solana treasury could become a benchmark for how companies treat blockchain tokens as long-term strategic assets.
