Galaxy Digital Acquires $486 Million in SOL as Solana Treasury Strategies Gain Momentum

Institutional interest in Solana is rising sharply, with Galaxy Digital making significant investments in the cryptocurrency. The firm’s recent acquisitions aim to enhance its newly established Solana treasury operations, signaling a growing trend in institutional accumulation of SOL.

Key Takeaways

Galaxy Digital has purchased 2.2 million SOL, valued at approximately $486 million, to support its Solana treasury initiative.
The new treasury operation was formed in collaboration with Forward Industries, Multicoin Capital, and Jump Crypto.
Institutional holdings of SOL have increased, with 14 entities now owning around 10.27 million SOL worth about $2.44 billion.
The price of SOL has risen significantly, indicating strong institutional demand and support for further price growth.

Galaxy Digital Acquires $486 Million in SOL as Solana Treasury Strategies Gain Momentum - 1

Rising Institutional Interest in Solana

As demand from institutions for Solana grows, leading firms are actively acquiring substantial amounts of the token. Recently, Galaxy Digital made notable purchases of SOL as part of a newly launched Solana treasury project. According to data from on-chain analytics provider Lookonchain, Galaxy Digital acquired 2.2 million SOL on September 12, which was valued at roughly $486 million at that time.

Galaxy Digital just bought another 706,790 $SOL ($160M).

In the past 24 hours, their total buy is a massive 2,159,182 $SOL ($486M). https://t.co/OFLLaSJQdS pic.twitter.com/RUoK7NXZMM
— Lookonchain (@lookonchain) September 12, 2025

Data from Arkham Intelligence indicates that this SOL was sourced from major exchanges such as Binance and Coinbase, with large amounts transferred from hot wallets into the custody of Galaxy Digital.

Formation of a Dedicated Solana Treasury

These large purchases are part of Galaxy Digital's broader strategy, which involves establishing a dedicated Solana treasury company through Forward Industries. This initiative is designed to serve as both the primary investor and a strategic partner, working alongside firms like Multicoin Capital and Jump Crypto. Recently, Forward Industries secured $1.65 billion through a private placement, signaling its commitment to long-term SOL accumulation. The funds will support the new cryptocurrency treasury operations, facilitate direct SOL purchases for working capital, and cover future transactions and expenses, positioning Forward for a substantial stake in the Solana ecosystem.

Galaxy Digital’s Treasury Holdings Surge

With Galaxy Digital's latest acquisitions, institutional Solana treasuries continue to expand rapidly. Approximately 14 verified entities now collectively hold around 10.27 million SOL, valued at about $2.44 billion. This total constitutes roughly 1.79% of Solana’s overall supply, representing a significant increase since early September, as more companies indicate a preference for long-term exposure to Solana.

Notable holders include Sharps Technology, with approximately 2.14 million SOL valued around $508 million, and DeFi Development Corp, which made a recent $40 million purchase to surpass the 2 million SOL mark.

The upward trend in these treasury holdings reflects a broader movement among institutions to systematically include Solana in their asset portfolios this month, suggesting that large-scale accumulation is accelerating as the market for Solana matures.

Price Dynamics of Solana

As institutional interest strengthens, Solana's price performance is reinforcing investor confidence. At the time of writing, SOL is trading at about $237.2, having risen by 6.27% in the past 24 hours and 16.13% over the past week, extending a month-long upward trend. With major firms doubling down on their Solana treasury strategies, this wave of institutional demand could further enhance prices, potentially breaking through key resistance levels around $265 and beyond.