Pantera Capital Targets $1.25B Mega-Fund for Nasdaq-Listed Solana Powerhouse

Wall Street meets crypto—again. Pantera Capital just dropped a billion-dollar bet on Solana's institutional future.

The Fundraising Play

Pantera's pushing for a massive $1.25 billion raise. Not another private fund—this one's headed for the public markets. A Nasdaq listing puts Solana ETFs, futures, and structured products squarely in the crosshairs.

Why Solana? Why Now?

Speed meets scalability. Solana’s throughput blows Ethereum out of the water—and institutions noticed. With BlackRock’s tokenized fund running on the chain and Visa settling in SOL, the ‘ETH killer’ narrative isn’t just chatter anymore.

The Regulatory Gambit

A publicly traded vehicle sidesteps the usual accredited-investor locks. Main Street gets a slice of the crypto action—without the wallet downloads or seed phrase anxiety. The SEC? Probably already drafting a footnote.

Let’s be real—since when did finance miss a chance to repackage innovation into something fee-heavy and familiar?

Pantera Deploys $300M Into Digital Asset Treasury Firms

The MOVE follows Pantera’s disclosure earlier this month that it has already deployed about $300 million into digital asset treasury (DAT) firms.

“The most important element of a DAT’s success is the long-term investment merit of the underlying token,” Pantera noted in a recent blockchain letter.

Its DAT portfolio includes stakes in Twenty One Capital, DeFi Development Corp, and SharpLink Gaming.

Pantera also joined ParaFi Capital this week in backing Sharps Technology, another Solana-focused treasury firm targeting more than $400 million in capital.

Crypto Fund @PanteraCapital Seeks to Raise Up to $1.25 Billion for @solana Deal

Pantera founder, Dan Morehead is seeking to raise as much as $1.25 billion to convert a public company into a Solana investment firm, as a flood of companies race to cash in on the latest hot… pic.twitter.com/HmCrHawyh5

The push comes amid a wave of smaller Nasdaq-listed companies pivoting into Solana strategies.

Institutional interest has been rising, with firms such as Upexi, DeFi Development Corp, and Bit Mining all accumulating SOL reserves in recent months.

DeFi Development Corp, which shifted from real estate financing to digital assets, doubled its SOL holdings in July to more than 163,000 tokens worth around $21 million.

Classover, an edtech company, purchased 6,500 SOL in June as part of a $500 million convertible note plan for acquiring and staking the token.

Canadian firms have also joined the trend: SOL Strategies and Torrent Capital collectively hold more than $68 million worth of SOL.

Altogether, public Solana treasuries now exceed $695 million, representing roughly 0.69% of total supply, according to CoinGecko.

Pantera’s proposed raise WOULD significantly expand that figure, cementing Solana’s position as one of the most actively adopted assets in the emerging treasury strategy space.

Galaxy, Jump, and Multicoin Plan $1B Solana Treasury Bet

As reported, Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise around $1 billion to build the largest Solana treasury to date.

Bloomberg reported that Cantor Fitzgerald has been tapped as the lead banker, with the Solana Foundation backing the deal, which could close in early September.

The plan involves taking over a publicly traded company and converting it into a digital asset treasury vehicle dedicated to Solana.

If finalized, it would more than double the size of the largest existing Solana corporate reserve, dwarfing holdings by companies like Upexi and DeFi Development Corp.

A $1 billion Solana treasury would mark one of the largest institutional commitments to the network, echoing similar corporate treasury models seen with Bitcoin and Ethereum.

Analysts say such a move could tighten supply, amplify volatility, and further accelerate Solana’s resurgence after the 2022 FTX collapse.