Solana Flex: Galaxy Drops $2.44B Bag With 2.2M SOL Buy
Institutional appetite for Solana (SOL) is growing as big names add to their holdings. Galaxy Digital, led by Michael Novogratz...
Quick overview
- Institutional interest in Solana (SOL) is increasing, highlighted by Galaxy Digital's acquisition of 2.2 million SOL worth approximately $486 million.
- Galaxy Digital's purchase supports its new Solana treasury product and follows the launch of Forward Industries, which raised $1.65 billion for Solana-related operations.
- Currently, 14 verified entities hold over 10.27 million SOL, valued at around $2.44 billion, indicating a growing trend in institutional accumulation.
- Solana's price has risen to $237.2, reflecting strong institutional demand, with analysts predicting potential resistance at $265.
Institutional appetite for Solana (SOL) is growing as big names add to their holdings. Galaxy Digital, led by Michael Novogratz, just bought 2.2 million SOL—worth around $486 million on September 12—to fund its new Solana treasury product.
On-chain data from Lookonchain confirmed the buys, while Arkham Intelligence tracked the tokens moving from exchanges like Binance and Coinbase into Galaxy’s custody. This is the growing role of structured treasury vehicles in institutional Solana exposure.
Galaxy Digital Expands Treasury
Galaxy’s latest accumulation comes after the launch of Forward Industries, a Solana-focused treasury firm backed by Galaxy as lead investor. Forward just raised $1.65 billion in private placement for SOL buys, working capital and future strategic expenses.
This puts Galaxy at the center of long-term Solana adoption alongside partners Multicoin Capital and Jump Crypto. The goal: to build sustainable exposure to one of the fastest growing blockchain ecosystems.
It’s simple to call yourself a trader. 📊
But only a few can truly call themselves consistently profitable. 💰
That’s the real flex. 🚀#Solana— CryptoOracle (@CrypOracleSOL) September 13, 2025
Details:
- 2.2 million SOL bought by Galaxy on September 12.
- $486 million value at time of acquisition.
- $1.65 billion raised by Forward Industries for Solana operations.
Institutional Holdings Over $2.44 Billion
Galaxy’s move is part of a broader institutional Solana accumulation trend. 14 verified entities now hold 10.27 million SOL—worth around $2.44 billion or 1.79% of Solana’s total supply. That’s up from 9.6 million SOL at the start of September.
Top holders:
- Sharps Technology: 2.14 million SOL (~$508 million).
- DeFi Development Corp: just added $40 million in SOL and now holds over 2 million.
Meanwhile Solana’s price is reflecting this institutional demand. SOL is trading at $237.2, up 6.27% in the last 24 hours and 16.13% in the last week. Analysts say consistent corporate demand could push the token to resistance at $265, making Solana an institutional asset.
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