Galaxy Digital expanded its Solana (SOL) holdings by about 2.15 million SOL valued at roughly $486 million, signaling growing institutional Solana interest. This move, tied to a $1.65 billion Forward Industries placement, highlights rising institutional Solana adoption and continued on-chain accumulation by major firms.
Galaxy Digital bought 2.15M SOL (~$486M)
FTX Estate unstaked ~192,000 SOL as part of ongoing monthly redemptions.
At least 14 institutions now hold over 10.27M SOL (~1.8% of circulating supply).
Solana institutional adoption: Galaxy Digital adds 2.15M SOL (~$486M). Read details on holdings, FTX Estate unstaking, and institutional appetite—stay informed.
Galaxy Digital expands its Solana holdings by $486 million while institutional interest grows, signaling strong confidence in the blockchain’s future.
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- Galaxy Digital has acquired over 2 million SOL, valued at $486 million, supporting the growth of Solana’s institutional involvement.
- FTX Estate has unstaked 192,000 SOL as part of its liquidation plan, continuing its regular monthly process.
- At least 14 institutional entities now hold over 10 million SOL, representing 1.8% of Solana’s total circulating supply.
Galaxy Digital has made significant strides in increasing its Solana (SOL) holdings. Recent on-chain data reveals that the firm acquired an additional 706,790 SOL, valued at around $160 million. This follows a larger buying spree in the past 24 hours, bringing its total purchase to 2.15 million SOL, worth an estimated $486 million.
What is the scale and purpose of Galaxy Digital’s Solana purchases?
Galaxy Digital’s Solana buy totals roughly 2.15 million SOL (~$486 million) and supports a $1.65 billion private placement for Forward Industries to create a dedicated Solana treasury. The acquisition enhances institutional Solana holdings and underpins strategic treasury-building by Nasdaq-listed Forward Industries.
How does this transaction reflect broader institutional Solana adoption?
On-chain aggregation and publicly disclosed financing show multiple institutional actors increasing exposure to Solana. Galaxy Digital, Jump Crypto and Multicoin Capital led the Forward Industries placement. CEO Mike Novogratz has publicly described a “season of SOL,” indicating executive-level conviction within major crypto financial firms.
The Forward Industries treasury will provide institutional-grade liquidity and custody for SOL holdings. That institutional structure is designed to attract further enterprise and fund-level participation in Solana, improving perceived market depth.
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Since November 2023 the FTX Estate has redeemed nearly 9 million SOL (~$1.21 billion at an average $134 per token) and currently retains roughly $977 million in staked SOL while continuing scheduled monthly unstaking.
At least 14 verified institutions hold over 10.27 million SOL (~$2.44 billion), representing roughly 1.8% of circulating supply. Concentration at this scale can increase liquidity for large trades but also shifts supply dynamics for market-moving events.
Galaxy Digital’s substantial Solana purchases, combined with the Forward Industries treasury initiative and ongoing institutional accumulation, indicate strengthening institutional Solana adoption. Market participants should watch on-chain flows and institutional disclosures for further signals. For continued coverage, follow COINOTAG reporting and on-chain analytics updates.
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