Solana Gains Traction Among Public Company Crypto Holdings

Public companies are increasingly adding Solana to their balance sheets, following Bitcoin and Ethereum’s adoption trends.

Digital asset treasuries (DATs) let firms list on stock markets, purchase crypto, and grow token holdings per share, giving investors exposure without directly buying coins. Unlike ETFs, DATs can actively deploy assets – staking, running validators, and using DeFi strategies — even in flat markets.

Over the past month, corporate treasuries accumulated about 6.3 million SOL (over 1.6% of circulating supply), led by Forward Industries, DFDV, Upexi, and Sharps Technology. Together, Solana treasuries now hold 2.46% of SOL, worth nearly $3 billion.

Solana’s high-throughput, low-fee blockchain positions it as a strong layer-1 alternative to Ethereum. Executives, like DFDV CEO Joseph Onorati, cite its efficiency and real-world adoption as reasons for corporate interest. Institutional exposure was further boosted in 2024 when FTX’s estate sold 41 million SOL to companies under a multi-year vesting schedule.

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Challenges remain: liquidity is thinner than Bitcoin or Ether DATs, and concentration risk grows if one company accumulates too much. Still, firms like DFDV are expanding globally, creating Solana treasury “franchises” in Japan and South Korea. Treasury lockups and staking also help offset Solana’s token inflation, signaling long-term confidence.

Solana DATs blend corporate finance strategy with crypto mechanics, marking the next stage of institutional participation in digital assets.