Nasdaq Firms Adopt Solana as New Treasury Reserve Asset

Solana has emerged as the standout choice, with a growing number of companies moving to hold SOL as part of their treasury reserves.

The latest entrant is Helius Medical Technologies, a Nasdaq-listed company that disclosed plans to make Solana its primary reserve asset. Helius raised more than $500 million in a private investment in public equity (PIPE) deal led by Pantera Capital and Summer Capital, with warrants that could bring the total proceeds to over $1.25 billion. The funds will be directed toward building a digital asset treasury centered on Solana, positioning the firm among a growing cohort of businesses prioritizing crypto holdings.

The company’s decision follows a broader trend of organizations seeking scale and yield in digital assets. Helius highlighted Solana’s strong network activity — millions of users, billions of transactions, and an estimated 7% staking yield — as key factors in choosing SOL for long-term treasury management and potential DeFi integration. Pantera Capital founder Dan Morehead reinforced the sentiment, calling Solana a “category-defining blockchain” that could form the backbone of a new financial system.

Helius now joins a list of firms including Forward Industries, Sol Strategies, DeFi Development Corp., and Upexi, all of which are pivoting toward Solana as a core asset. Forward Industries, also listed on Nasdaq, recently announced one of the largest treasury allocations to date. The company revealed that it had purchased 6.8 million SOL at an average price of $232, amounting to $1.58 billion. The tokens were acquired through both on-chain and open market transactions.

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That acquisition came on the heels of a $1.65 billion fundraising round led by Galaxy Digital, Jump Crypto, and Multicoin Capital earlier this month. Forward Industries has openly stated its ambition to become the world’s leading Solana treasury firm, aiming to create long-term value for its shareholders through large-scale strategic allocations.

The twin announcements underscore Solana’s growing role as a corporate reserve choice, with momentum suggesting that more firms may follow suit. If this trend continues, Solana could soon become a fixture in the balance sheets of major corporations, much like Bitcoin has over the past few years.

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