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Digital asset treasuries have become all the rage recently, with many firms copying the strategy popularized by Michael Saylor's bitcoin (BTC) holding firm Strategy.
Aug 25, 2025, 9:00 a.m.
Galaxy Digital, Multicoin Capital and Jump Crypto are looking to raise $1 billion to build a treasury dedicated to Solana's SOL (SOL), Bloomberg reported on Monday.
The three crypto firms have joined hands and have hired Cantor Fitzgerald as the lead banker, the report said, citing people familiar with the matter. They plan to buy out a listed firm and create a digital asset treasury company, the report added.
Digital asset treasuries have become all the rage recently, with many firms copying the strategy popularized by Michael Saylor's bitcoin BTC$111,399.90 holding firm Strategy (MSTR).
At press time, Galaxy, Multicoin and Jump did not immediately respond to CoinDesk's request for comment
The deal is expected to close in early September and has gotten the green light from the Solana Foundation, the report noted.
The combined firm will take on the Toronto-listed SOL Strategies, which recently has filed for a Nasdaq-listing.
Read more: SOL Strategies Files to List on Nasdaq
Parikshit Mishra
Parikshit Mishra is CoinDesk's Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
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