Solana “SOL Season” Ignites: Novogratz and Galaxy Digital Back $1.65B Treasury Strategy as SEC and Nasdaq Pave Way for Institutional Adoption

Galaxy Digital CEO Mike Novogratz signaled that the crypto market is entering a period he termed the “SOL Season”, citing growing market momentum and supportive regulatory signals. He highlighted a recent $1.65 billion financing round for Forward Industries—backed by Galaxy Digital, Jump Crypto and Multicoin Capital—designed to establish a large-scale Solana treasury strategy, a move that channels institutional capital into altcoin infrastructure while preserving portfolio diversification principles.

Regulatory commentary and a Nasdaq rule-change proposal to list tokenized securities on the same order book as traditional instruments have reinforced expectations of accelerated institutional adoption and market digitization. With its high throughput and low-latency execution, Solana is positioned as a pragmatic blockchain for financial workloads, and healthy competition with Ethereum is driving multi-chain interoperability through bridges rather than winner-takes-all dynamics.