The focus keyword Solana Treasury gains new prominence as Galaxy Digital, Jump Crypto, and Multicoin Capital reportedly join forces to accumulate a staggering $1 billion. This collaborative initiative aims to create what could become the largest treasury of Solana’s native token, SOL, according to a recent report by Bloomberg.

Ambitious Goal: Building a Gigantic Solana Treasury

The joint venture by the three crypto powerhouses marks a bold move to establish a dedicated treasury solely focused on Solana’s digital currency, SOL. To manage this large-scale endeavor, the firms have reportedly appointed financial services giant Cantor Fitzgerald as their lead banker.

This strategy is reminiscent of the playbook used by Michael Saylor’s firm, Strategy (MSTR), that gained fame for aggressively acquiring Bitcoin to build corporate treasuries. The Solana-focused initiative represents a growing trend where firms concentrate resources on strategic accumulation of a single crypto asset.

Acquisition Strategy and Structure of the New Entity

Adding more intrigue to the plan, the group is reportedly preparing to purchase an already-listed company to serve as the foundation of this digital asset treasury. The firm being targeted is SOL Strategies, which recently filed for listing on Nasdaq. This acquisition would enable the combined entity to harness existing listing benefits while redirecting business operations toward Solana investment.

This approach not only expedites the timeline but also integrates established markets with the new treasury project. According to people familiar with the matter, this freshly formed vehicle would then serve as a centralized Solana reserve on public markets, potentially encouraging institutional Solana holdings and boosting the network’s economic ecosystem.

Support From Solana Foundation and Market Implications

Crucially, this initiative has received formal backing from the Solana Foundation, clearing regulatory and community-related roadblocks that could otherwise stall such an ambitious undertaking. With the Foundation’s approval, the project now moves closer to reality, and the transaction is expected to close in early September.

While none of the involved firms—Galaxy, Jump, or Multicoin—have made public comments yet, market watchers are already speculating on how this mega-treasury could impact Solana’s price stability, investor confidence, and liquidity. As digital asset treasuries become more prominent, their role in shaping the crypto landscape becomes unavoidable.

Digital Treasuries Gain Traction in Crypto Strategy

The broader context of this venture is the rising trend of cryptocurrency treasuries serving as both strategic reserves and market influencers. Inspired by Strategy’s famous Bitcoin acquisition model, digital-native firms are adapting the concept to other prominent tokens. Solana, known for its high-speed low-cost transactions, seems a natural candidate for such structural support.

Should this $1 billion treasury become a reality, it could represent a pivotal moment not only for Solana but for treasury-based Web3 business models as a whole.

Chart illustrating SOL token’s rising momentum in institutional interest.

For more details, you can read the original coverage via Bloomberg.

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Read more: SOL Strategies Files to List on Nasdaq