TLDR
- Solana Company holds 2.2M SOL worth $515M plus $15M in cash
- Its reserves exceed proceeds from its September private placement
- It joins other listed firms treating Solana as a treasury asset
- Grayscale enabled staking for Solana trust amid ETF speculation
Solana Company, formerly known as Helius Medical Technologies, has amassed over 2.2 million SOL tokens, now valued at approximately $530 million, alongside $15 million in cash reserves. This move places the Nasdaq-listed firm among a growing number of public companies treating Solana as a treasury asset. The accumulation comes amid increasing institutional interest, particularly from Asia, and reflects broader trends in corporate cryptocurrency adoption.
Strategic Accumulation of SOL Tokens
Solana Company, a Nasdaq-listed entity formerly operating as Helius Medical Technologies, confirmed it has acquired over 2.2 million SOL tokens. The holdings are valued at roughly $515 million at the current market price of $234 per token. The firm also holds $15 million in cash, bringing its total reserves to nearly $530 million.
This accumulation comes shortly after its September private placement, with total reserves now surpassing the proceeds raised during that round. The company appears to be implementing a long-term strategy centered on digital asset accumulation.
Cosmo Jiang, general partner at Pantera Capital and a board observer at Solana Company, said, “Following in the footsteps of Michael Saylor at MSTR and Tom Lee at BMNR, HSDT Solana Company is focused on maximizing shareholder value by efficiently accumulating Solana.”
Growing Trend Among Publicly Traded Firms
Solana Company is one of many public firms that are beginning to treat Solana as a treasury asset. Other companies, such as VisionSys, Forward Industries, and DeFi Development Corp., have also revealed similar strategies.
VisionSys recently started its own Solana treasury initiative with support from Marinade Finance. Forward Industries pledged $1.65 billion to a Solana investment vehicle backed by Galaxy Digital, Jump Crypto, and Multicoin Capital. Additional firms, including Sol Strategies and Upexi, have disclosed Solana holdings in recent filings.
This development marks an expansion in the corporate adoption of cryptocurrencies beyond Bitcoin and Ethereum. The approach mirrors earlier treasury strategies taken by firms like MicroStrategy and Black Mountain Resources.
Institutional Interest on the Rise
Solana Company’s Executive Chairman, Joseph Chee, pointed out that institutional demand has exceeded expectations, particularly in Asia. He attributed the increase in interest to several recent digital asset conferences across the region.
“The interest from Asia’s institutional market has been stronger than we initially anticipated,” said Chee. This regional momentum may support further adoption of Solana among institutional investors globally.
Chee also suggested that Solana’s low transaction fees and high throughput continue to appeal to both developers and enterprise users. These traits, combined with growing infrastructure, are contributing to its adoption as a treasury asset.
Grayscale Enables Staking and ETF Talks Surface
Institutional interest in Solana is also reflected in product offerings. Grayscale recently enabled staking features for both its Ethereum ETFs and its Solana Trust. This move is being closely watched as a potential step toward the launch of a spot Solana ETF in the United States.
The expansion of staking services and possible regulatory acceptance of Solana ETFs could further validate the digital asset among public companies. Market observers note that these developments come at a time when institutional investors are diversifying their crypto exposure beyond the top two assets.
As more firms continue to explore digital asset strategies, Solana Company’s decision to add millions of tokens to its balance sheet reflects an ongoing shift in corporate treasury practices. The move places it in line with other firms adopting crypto-native assets at scale.
