Rising Corporate Adoption of Solana Treasury: 13 Entities Hold 1.55% of SOL Circulating Supply

The adoption of Solana by publicly listed companies is gaining momentum, with a total of 13 entities now holding nearly $1.8 billion worth of SOL in their treasuries. This reflects increasing confidence in Solana as a viable digital asset for corporate treasury strategies.

Key Takeaways

Thirteen publicly listed companies hold 8.90 million SOL, which is 1.55% of the total circulating supply.
The total value of these holdings is approximately $1.8 billion.
Notable holders include Upexi Inc. and DeFi Development Corp.
Corporate interest in Solana is expected to grow substantially, aided by planned fundraising efforts.
Staking activity indicates active management of a portion of these funds for yield generation.

Solana treasury adoption gains momentum: 13 entities now hold 1.55% of SOL circulating supply - 1

Main Content

The corporate adoption of Solana is speeding up, evidenced by 13 publicly listed companies now integrating nearly $1.8 billion worth of SOL into their treasury strategy. These companies are collectively holding 8.90 million SOL, equivalent to 1.55% of the overall circulating supply.

Among the leading holders, Upexi Inc. stands out with a hefty 2,000,518 SOL. Following closely is DeFi Development Corp., which has ramped up its holdings to 1,988,170 SOL after acquiring an additional 196,141 SOL. Sol Strategies occupies the third position with 370,420 SOL; this company is also on track to become the first among Solana treasury adopters to list on Nasdaq.

Currently, approximately 585,059 SOL from these reserves are staked through the Combined Staking Reserve, yielding an average of 6.86%. Although this staked amount is just 0.102% of Solana's total supply, it demonstrates that some treasury funds are actively deployed to generate yield, rather than remaining inactive.

As the momentum behind the Solana treasury strategy builds, we can anticipate a significant expansion in corporate holdings shortly. DeFi Development Corp. has made a commitment to increase its reserves towards the $1 billion target. Meanwhile, Galaxy Digital, Jump Crypto, and Multicoin Capital are collaborating with Cantor Fitzgerald to raise up to $1 billion for a shared Solana treasury initiative, which the Solana Foundation in Zug, Switzerland, is also supporting.

In addition, Accelerate, led by Joe McCann, has revealed plans to raise $1.51 billion to acquire 7.32 million SOL, which would create the largest private Solana treasury outside of the Foundation.

While corporate holdings of SOL still trail behind Bitcoin’s treasury dominance, the scale and speed of capital mobilization indicate Solana's emerging position as a formidable contender in the digital asset treasury landscape.