Solana Joins Corporate Crypto Race with $3 Bn in Treasury Holdings

Solana is rapidly emerging as the next major player in corporate crypto adoption, following the lead of Bitcoin and Ethereum treasury models that have fuelled stock rallies and institutional investment.

According to CoinGecko data, public companies now hold 2.46% of Solana’s supply, nearly $3 bn worth of SOL, as part of their digital asset treasuries (DATs). Firms such as Forward Industries, DeFi Development Corp (DFDV), Upexi, and Sharps Technology have accumulated millions of SOL in recent months.

The Solana treasury boom mirrors strategies used by Bitcoin and Ether treasuries, but with a unique twist: companies are not only holding SOL as an asset but also staking tokens and running validators to generate yield. DFDV CEO Joseph Onorati said Solana is «winning the technology race» among Layer 1 blockchains, citing faster speeds and lower costs than Ethereum.

Analysts say this trend could make Solana a key player in the next wave of crypto-equity convergence, where publicly traded firms use digital assets to boost value and investor appeal. However, experts warn of liquidity limits and concentration risks compared with Bitcoin and Ether holdings.

Despite those hurdles, Solana’s growing role in corporate portfolios, coupled with global DAT expansion in Japan and South Korea, underscores its evolution from a post-FTX recovery story to a mainstream institutional asset.