Galaxy Digital’s aggressive accumulation underscores what its CEO calls the season of SOL, as the firm rapidly scales exposure to the Solana ecosystem. According to available details, the move signals growing institutional interest in Solana’s financial-market potential and tokenization readiness.
Galaxy Digital ramps up Solana buys
Galaxy Digital recently purchased 2.16 million SOL, valued at approximately $486 million, over the past 24 hours. The tokens were sourced from centralized exchanges such as Binance and Coinbase, according to the source. The pace suggests deliberate balance sheet positioning; however, execution details were not disclosed.
Meanwhile, this accumulation forms part of a broader strategy. Galaxy Digital is leading a $1.65 billion Private Investment in Public Equity (PIPE) deal by Forward Industries to set up a dedicated Solana corporate treasury. As a result, the firm appears to be aligning capital, governance, and liquidity around SOL.
‘Season of SOL’ narrative intensifies
Mike Novogratz described the moment as “the season of SOL,” noting that money is pouring into the Solana ecosystem. He cited Solana’s potential in the financial market space and its readiness for tokenization, which he suggested aligns with the SEC’s evolving stance.
Therefore, the thesis rests on two pillars:
• Institutional-scale liquidity support via corporate treasury initiatives.
• A growing belief that Solana’s infrastructure suits tokenization use cases.
However, price implications remain uncertain, and timelines for treasury deployment were not specified. Even so, the coordinated buys and PIPE leadership may reinforce confidence among market participants watching Solana’s role in emerging on-chain finance.
For readers new to the mechanics behind tokenized cash equivalents, see our guide on how stablecoins work.
