# Galaxy, Multicoin, Jump Plot $1B Solana Treasury Fund: Bloomberg

*Author: Bankless*
*Published: Aug 25, 2025*
*Source: https://www.bankless.com/read/galaxy-multicoin-jump-plot-1b-solana-treasury-fund-bloomberg*

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Three of crypto’s biggest players—Galaxy Digital, Jump Crypto, and Multicoin Capital—are said to be raising a $1 billion treasury fund to buy and hold Solana, [Bloomberg](https://www.bloomberg.com/news/articles/2025-08-25/galaxy-jump-multicoin-seek-1-billion-for-buying-solana-token) reports.

### What’s the Scoop?
- **The fund:** Endorsed by the Solana Foundation and corralled by lead banker Cantor Fitzgerald, the deal involves acquiring a publicly traded company to hold the assets. The move mirrors countless other DAT firms.
- **Coming soon: **The deal is expected to close in early September, sources tell Bloomberg.
- **The market:** Despite the news, SOL dropped more than 8% today as broader crypto markets reeled from Bitcoin's whale-triggered selloff.
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