Wall Street plans to establish a $1 billion Solana treasury, which may rewrite the alts financing model.

According to a report by Bloomberg, Galaxy Digital, Multicoin Capital, and Jump Crypto are collaborating with Cantor Fitzgerald to plan a Solana (SOL) treasury program with a scale of approximately $1 billion, and are considering completing the transaction through acquisition of public company entities. If it is delivered as scheduled in early September, this will become the largest dedicated SOL treasury in history and may create a new template for altcoin financing.

Plan Details: $1 Billion SOL Treasury

Transaction Structure: Use tools from listed companies and financing methods such as public equity, convertible bonds, or PIPE (Private Investment in Public Equity) to expand exposure to crypto asset risks.

Leading Banker: Cantor Fitzgerald

Target time: Complete Delivery in early September, subject to approval from the Solana Foundation.

Uncertainty: The plan is still in the negotiation stage, and details may change, influenced by market and regulatory risks.

Why choose Solana?

According to the "2025 Decentralized Exchange Status Report" from a major CEX:

1. Solana accounts for about 48% of the total trading volume on DEX, with trading activities primarily focused on retail.

2. Ethereum and its Layer 2 still dominate large transactions above $50,000.

Strategic significance: The listing of the SOL aggregator can target the broad retail liquidity of Solana, while acknowledging that institutional blockchain traffic tends to favor ETH.

Related Companies and Ecological Layout

Galaxy Digital: Launched the Solana Index Tracking Fund and the Bloomberg Galaxy Solana Index in 2021, early on establishing institutional-grade SOL products.

Multicoin Capital: Long-term outlook on Solana's high throughput and vertical integration strategy

Cantor Fitzgerald: Recent supported cryptocurrency treasury bond programs include the Bitcoin Standard Treasury Bond Company listed on Nasdaq (holding over 30,000 BTC).

The Rise of the SOL Bond Market

Upexi: Holds over 100 million USD SOL, strategies include validator operations and equity/convertible bond financing.

DeFi Development Corp.: Holds 846,000 SOL, focused on achieving compound growth through staking rewards.

Trend Interpretation: More and more publicly listed companies are using SOL as a strategic asset on their balance sheets and are conducting centralized acquisitions through public market instruments.

Potential Impact and Follow-up Observations

1. Market Impact:

Provide equity representation for investors who cannot directly hold tokens.

Create a replicable public market financing model for altcoin capital structure

2. Follow-up Observation:

Has the Solana Foundation approved the plan?

The attitude of regulatory bodies towards such crypto asset balance sheet tools.

The market's price reaction to the concentrated acquisition of SOL

Conclusion

If the $1 billion SOL treasury plan led by Cantor Fitzgerald is completed on time, it will not only be a significant capital injection into the Solana ecosystem but may also serve as a model for the deep integration of traditional finance and crypto assets. This could pave the way for more alts to create a "public company balance sheet model" in the future and change the way institutional investors enter the crypto market.