A group of leading digital asset firms is preparing to create the largest treasury focused on Solana. Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly looking to raise $1 billion for SOL purchases.
Plans for Solana Treasury
According to a report by Bloomberg, Galaxy Digital, Multicoin, and Jump Crypto aim to create a digital treasury company by taking over a publicly traded entity. The new entity would focus on holding Solana as a core asset. It was also mentioned that the Solana Foundation has endorsed this proposal.
Growth of Existing Solana Treasuries
Several firms have recently announced significant Solana reserves. Upexi disclosed that it holds over two million SOL, valued at around $400 million at current prices. This trend shows an increasing interest in Solana as a corporate treasury asset.
Sharps Technology's Digital Asset Strategy
On the same day, Sharps Technology announced a $400 million private placement to establish a Solana treasury. This will follow the private investment in public equity (PIPE) model and involve institutional investors.
The planned $1 billion fund could reshape the landscape of corporate treasury for Solana, offering new investment opportunities within this cryptocurrency's ecosystem.
