Galaxy Digital Purchase Additional $306M Solana To Boost Acquisition Spree To $1.55 Billion

The digital assets investment firm, Galaxy Digital, has bought an additional $306 million worth of Solana in the last 24 hours. The latest purchase has pushed the Solana purchases by Galaxy Digital to over $1.55 billion in the last five days.

Galaxy Digital Buys Additional $306M Worth of Solana

On Sunday, September 14, on-chain data showed that Galaxy Digital bought $306 million worth of Solana. This comes just a few days after we reported that Galaxy Digital had bought more than $530 million worth of Solana (SOL), with its co-founder Mike Novogratz predicting the “Season Of Solana” is here.

According to the report from Lookonchain, Galaxy Digital bought more than 1.2 million SOL tokens from multiple exchanges, including Binance, Bybit, and Coinbase. 

The purchases were across 13 transactions, after which the SOL tokens were sent to the crypto custody firm Fireblocks. The purchase came after the digital asset investment firm teamed up with Multicoin Capital and Jump Crypto to lead a private placement in Forward Industries (FORD). 

While Galaxy Digital hasn’t confirmed if the $306 million SOL purchase is linked to FORD, the three parties had decided to commit capital of $1.65 billion in cash and stablecoin to a private investment in a public equity offering to Forward Industries, which will act as a Solana treasury company. 

Galaxy Snaps Up over 6.5 million SOL in Five Days

In the last five days, Lookonchain reports that Galaxy Digital has bought over 6.5 million SOL, worth approximately $1.55 billion. According to the on-chain analytics firm, the digital asset investment company has been buying tens to hundreds of thousands of SOL tokens in rapid succession. 

Based on the recent report, we could still see the final purchases of approximately $100 million in SOL tokens to reach the committed capital. The aim of Galaxy Digital teaming up with Multicoin Capital and Jump Crypto is to provide Forward Industries with financial and strategic support to make it the institutional market leader in the Solana ecosystem. 

Forward Industry will also realize differentiated on-chain returns and create long-term shareholder value by actively engaging with the Solana ecosystem. Michael Pruitt, CEO of Forward Industries, has said that Solana has become one of the most innovative and widely used blockchain ecosystems globally. 

A Solana Season is Around the Corner

Galaxy CEO, Mike Novogratz, also remarked last week that the crypto space was entering the Solana season. In June 2025, Galaxy Digital filed for a Solana ETF, which further confirms the company’s belief in the future of Solana.

Last week, the digital asset manager also became the first company listed on Nasdaq to be tokenized on the Solana network. This comes at a time when institutional investors are turning to Solana as a major alternative to Bitcoin and Ethereum treasuries.

The co-founder of Helius Labs, Mert Mumtaz, recently reported that Solana treasury companies have cumulatively acquired about $3-$4 billion in SOL. Mumtaz also predicts that more institutional investors will follow these footsteps.