Public companies pivot to SOL accumulation, signaling Solana’s rise as the backbone of digital finance

A surge of corporate treasury initiatives centered on Solana’s native token is underway, with multiple billion-dollar fundraising efforts highlighting growing institutional conviction in the blockchain’s role as financial infrastructure.

Sharps Technology became the latest entrant on Monday, after it unveiled a $400 million private placement to build what it claims will be the largest dedicated Solana treasury program to date.

The Nasdaq-listed firm also announced its plan to direct most of its capital towards open-market SOL purchases, backed by a $50 million commitment from the Solana Foundation at a 15% discount to prevailing market prices.

The move follows reports of similar plan from bigger firm who are investing even more money into Solana. Pantera Capital, for example, had reportedly raised up to $1.25 billion to accumulate Solana tokens.

Similarly, Galaxy Digital, Jump Crypto and Multicoin Capital are all investing in a $1 billion treasury initiative with Cantor Fitzgerald as lead banker, as reported by Bloomberg on Monday.

The corporate rush into Solana underscores rising institutional acknowledgment of its network strength. Data shows Solana consistently processes more daily transactions than all other major blockchains combined, generates the highest on-chain fee revenue, supports staking yields around 7%, and records $6 billion in daily trading volume.

Smaller public companies have already staked significant positions. DeFi Development Corp doubled its holdings to 163,000 SOL—valued at roughly $21 million—in July, while Classover acquired 6,500 SOL as part of a broader $500 million token accumulation strategy. Canadian firms SOL Strategies and Torrent Capital collectively hold more than $68 million worth of Solana.

Altogether, public Solana treasuries now exceed $695 million in value, representing about 0.69% of total supply, per CoinGecko. If the pending multi-billion-dollar initiatives close, that figure could climb sharply.

The trend mirrors Bitcoin’s earlier wave of corporate adoption led by MicroStrategy, but Solana advocates argue the blockchain’s broader utility—from tokenized securities to real-world asset integration—offers a stronger strategic case than Bitcoin’s store-of-value narrative.

James Zhang, the advisor to Sharps Technology pointed to Solana’s leadership in staking yields, network revenue, and application revenue among major blockchains as an advange Solana has over Bitcoin.

“Solana is essentially the internet of capital markets, the next phase in global finance.”

The Solana Foundation’s willingness to extend discounted tokens to corporate treasuries highlights institutional support for the buildup. Reports suggest its backing also covers the Galaxy-Jump-Multicoin initiative, which could finalize as soon as September.

Sharps Technology’s investors include ParaFi, Pantera, FalconX, and Bastion Trading, alongside established venture capital firms—signaling broad professional investor buy-in.

Meanwhile, technical fundamentals remain strong: Solana added over 7,500 developers in 2024 and processed 8.9 billion transactions last quarter. Year-to-date, its applications have generated $1.3 billion in revenue, outpacing every other major blockchain in the first half of 2025.

The corporate treasury wave comes as Solana trades near multi-year highs, with proponents arguing the network’s speed, scalability, and infrastructure leadership justify premium valuations over competing platforms.