$4 Billion in Solana Now Held by Companies
More and more companies are adding Solana (SOL) to their balance sheets this year. According to new data from Cointelegraph and CoinGecko, businesses now hold about 17.1 million SOL, worth around $4 billion, which is almost 3% of all SOL in circulation. That’s a big jump from earlier this year and shows growing trust in Solana’s ecosystem.
Why are companies buying SOL?
Firms say they want to:
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Diversify their cash reserves beyond dollars or Bitcoin.
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Earn staking rewards, since SOL can generate extra yield.
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Get exposure to one of the fastest-growing blockchains for apps, DeFi, and NFTs.
Some, like Forward Industries, have even shifted part of their treasury strategy fully into SOL, becoming what analysts call “Solana-native” corporations.
Some of the companies that are investing
| Company | Approx. SOL Holdings | What It Means / Strategy |
|---|---|---|
| Forward Industries (NASDAQ: FORD) | Forward has shifted a big part of its business to build a “Solana treasury company.” It raised $1.65 billion via PIPE financing led by Galaxy Digital, Jump Crypto, Multicoin Capital, and immediately purchased SOL. They stake their SOL and plan to generate value through DeFi, staking, lending etc. (nasdaq.com) | |
| Upexi Inc. | ~2,000,000 SOL (value $400-$500 million range) (CoinGecko) | Upexi has raised capital specifically to buy SOL, staked most of its holdings, and used locked token purchases (discounted SOL) to lower cost. It is one of the biggest SOL treasuries after Forward. (Bingx Exchange) |
| DeFi Development Corp. (DFDV) | ~2,000,000 SOL (sometimes reported ~1.8-2.0 million) (ETHNews) | DFDV uses a mix of staking, validator operations, etc. It also uses liquid staking tools and wants to build out solver ecosystem infrastructure. Its treasury is not purely accumulation but includes yield, infrastructure. (CoinGecko) |
| Sharps Technology | ~2,140,000 SOL (valued in the hundreds of millions) (ETHNews) | Sharps is another company that has moved especially aggressively into SOL. It shows how the trend is broadening beyond purely crypto or tech-native firms. (ETHNews) |
What it means
Institutional buying helps Solana look stronger and more established — but also makes it more sensitive to big players’ decisions. For now, corporate demand appears steady, and Solana’s position as a “serious” Layer-1 contender keeps growing.