Catenaa, Friday, October 10, 2025-Nasdaq-listed Solana Company, formerly Helius Medical Technologies, has accumulated more than 2.2 million SOL tokens, alongside $15 million in cash, bringing its total digital asset treasury to nearly $530 million. The accumulation strategy positions the firm among a wave of publicly traded companies adding Solana to their balance sheets.
Executive Chairman Joseph Chee cited growing institutional interest, particularly from Asia, following recent crypto conferences, as a driver of the accumulation. Industry observers note the firm is following a trend similar to Michael Saylor at MicroStrategy, treating digital assets as a long-term treasury strategy.
Other listed companies, including VisionSys, Forward Industries, DeFi Development Corp., Sol Strategies, and Upexi, have also disclosed Solana holdings. VisionSys partnered with Marinade Finance for staking, while Forward Industries pledged $1.65 billion to a new Solana vehicle backed by Galaxy Digital, Jump Crypto, and Multicoin Capital.
The broader institutional landscape is expanding beyond Bitcoin and Ethereum. On Monday, Grayscale enabled staking for its Ethereum ETFs and Solana trust, potentially paving the way for one of the first spot Solana ETFs in the U.S. Analysts see these corporate and institutional moves as an indicator of growing confidence in Solana as a mainstream blockchain and balance-sheet asset.
The firm’s Solana holdings, currently valued at roughly $515 million, exceed the total gross proceeds of its September private placement, highlighting the aggressive accumulation strategy. Cosmo Jiang of Pantera Capital noted the approach is focused on maximizing shareholder value while capitalizing on Solana’s growing adoption among institutions.
