- Forward Industries launches $1.58B Solana treasury with 6.82M SOL purchase, staking all for yields amid Galaxy Digital backing.
- Six entities lock 15M+ SOL (3.6% supply), valued at $3.5B, mirroring MicroStrategy’s BTC strategy for corporate adoption.
- Institutional hoarding signals Solana bull run, but raises decentralization flags as partners like Pantera and Kraken pile in.
In a move echoing MicroStrategy’s legendary Bitcoin treasury strategy, Solana ($SOL) is witnessing a seismic shift toward corporate adoption.
On-chain analytics firm Lookonchain revealed that six strategic entities now each hold over 1 million SOL, collectively locking up 15.07 million tokens—equivalent to 3.6% of the total supply. At today’s price of $232.59, that’s a staggering $3.5 billion in reserves, underscoring institutional FOMO as Solana’s ecosystem thrives amid DeFi and meme coin frenzies.
Leading the pack is Forward Industries (NASDAQ: FORD), a forward-thinking Web3 innovator that’s pivoting hard into crypto treasuries. Fresh off a September 2025 strategy launch, the company shelled out $1.58 billion for 6.82 million SOL at an average cost of $232 per token. Backed by heavyweights like Galaxy Digital, Jump Crypto, and Multicoin Capital, Forward isn’t just holding—it’s staking every token and deploying capital into Solana-based yields. With a modest $67 million market cap, this treasury dwarfs its equity value, positioning FORD as a high-beta play on SOL’s upside.
CEO remarks hint at more acquisitions, funded by recent capital raises, signaling a “Bitcoin-for-Solana” playbook that could ignite shareholder value.The other whales aren’t slouches either. Sharps Technology ($28M cap) boasts 2.14 million SOL, fueled by partners like ParaFi and Pantera Capital—titans who’ve long bet on Solana’s speed. DeFi Development Corp ($435M cap) sits on 2.03 million SOL via GSR and Big Brain Holdings, while Upexi ($373M) and Mercury Fintech ($555M) each command 2 million and 1 million SOL, respectively, with ties to Kraken and Solana Ventures.
Rounding out the list, iSpecimen Inc ($14M) holds 1 million SOL through BlockArrow Capital.This concentration isn’t without risks. Critics warn of centralization creeping into Solana’s proof-of-stake model, potentially amplifying validator influence. Yet, history favors the bulls: Institutional inflows preceded Ethereum’s 2021 surge and Bitcoin’s 2024 halving rally. With Solana processing 65,000 TPS and hosting $50B+ in TVL, these treasuries could squeeze supply just as retail rotates in.
As Web3 matures, Solana’s corporate embrace marks a maturation milestone. Expect more firms to follow, turning $SOL from a trader’s delight into a balance-sheet staple. HODLers, rejoice—this is institutional gravity pulling SOL to new orbits.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
