Insiders: FTX has locked up $7.5 billion worth of 41 million SOL, attracting multiple buyers

According to ChainCatcher news, citing sources from The Block, the 41 million SOL (approximately $7.5 billion) locked by FTX has attracted multiple buyers.

It is reported that FTX chose Galaxy Asset Management in September 2023 to facilitate the token sale, with the registered investment advisor allocating tokens to potential bidders, some of whom are raising funds for larger bids. Neptune Digital is the first company to publicly state that it has acquired locked SOL from FTX. The firm purchased 26,964 SOL at a price of $64 per token. Of these, 20% of the tokens will be unlocked in March 2025, and the remaining tokens will be unlocked linearly each month until 2028.

Galaxy Trading is one of the funds raising money from investors to bid on the locked SOL. According to three sources, investors can participate at a price of $64 per token, and the fund will charge a 1% management fee. BitGo will act as the custodian for the tokens.

Two sources stated that while some transactions have been completed, there are still some tokens remaining. They expect these products to be launched by the end of next month, although this has not been confirmed. One source mentioned that there is high demand for such products, as investors realize that with the rapid increase in token prices during this process, their exposure to SOL tokens is insufficient.