- Novogratz frames Solana’s rise as cyclical, arguing the network’s speed and ecosystem growth give it an edge in the current market phase.
- SEC Chair Paul Atkins signals a softer regulatory stance, suggesting most digital tokens shouldn’t be classed as securities and calling for updated rules.
- Nasdaq’s push into tokenised trading underscores institutional momentum, with traditional markets moving to legitimise and integrate blockchain assets.
Galaxy Digital CEO Mike Novogratz has said Solana is entering a defining stage, pointing to both market activity and shifts in regulatory thinking as proof that the blockchain is gaining momentum.
Forward Industries recently completed a US$1.65 billion (AU$2.48 billion) fundraising round, co-led by Galaxy Digital, Jump Crypto and Multicoin Capital, to establish a large-scale Solana treasury strategy. In an interview with CNBC, Novogratz stated that the arrival of such dedicated treasury vehicles demonstrates how altcoin ecosystems are now attracting serious capital and fuelling industry expansion.
He added that regulation is catching up with this momentum. SEC Chair Paul Atkins has publicly committed to revising securities rules so markets can operate directly onchain. Atkins has also argued that entrepreneurs should not be trapped in “endless legal uncertainty” and stressed that most tokens are not securities.
Novogratz described this as a clear break from the regulator’s previous position, framing it as an important step for institutional involvement.
Related: Galaxy CEO Says Treasury Growth Has Peaked — Just as Bitcoin ETFs See Massive Outflows
Nasdaq Eyes Tokenised Products
Beyond statements, practical changes may soon follow. Nasdaq has asked the SEC to allow tokenised versions of listed shares and ETFs to trade alongside traditional securities, a move that could introduce blockchain settlement from 2026. Novogratz suggested the technology is now fast, secure and sufficiently mature for Wall Street adoption.
While he singled out Solana for its high throughput and ability to handle financial workloads, Novogratz also acknowledged Ethereum as a strong competitor. He said both will play vital roles in building global financial infrastructure, with multiple blockchains likely to coexist through bridging technology.
He also addressed Bitcoin, saying capital rotation has held its price steady while other platforms gained attention. Nonetheless, he forecast a recovery toward year-end once the Federal Reserve begins cutting interest rates, describing bitcoin as digital gold supported by a committed community.
Related: Binance and Franklin Templeton Team Up to Build Institutional-Grade Digital Asset Products
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