Solana Treasury Companies

What is a solana treasury strategy?

Solana is best known for its lightning-fast transaction speeds and low fees, and is now finding a new home on the balance sheets of listed companies.

Just like any asset, solana (SOL) can be held by companies as part of their treasury management.

A solana treasury strategy involves holding SOL on the balance sheet as an investment or operational reserve. Some companies are doing this to align with blockchain growth, while others use it to power staking or DeFi services.

Whatever the reason, Solana’s speed, scalability and growing DePIN (Decentralized Physical Infrastructure) ecosystem make it an attractive play for companies looking to participate in next-gen finance.

Why invest in solana treasury companies?

Buying shares in companies that hold SOL can be a way to gain exposure to the Solana ecosystem without directly owning crypto.

For retail investors, this can be a more regulated or familiar path. No wallets, no seed phrases, just good old-fashioned shares. And for traders, SOL-linked companies can offer opportunities tied to token price action, corporate developments or broader blockchain momentum.

Companies that hold SOL are also usually deeply involved in the future of DeFi. So buying shares in a solana treasury companies is pinning your money to the growth of decentralized apps (dApps), especially NFTs and DeFi.

Top public companies investing in solana

1. Upexi Inc. (NASDAQ: UPXI)

Upexi is an e-commerce company based in the US that specializes in the manufacturing and distribution of consumer products.

More recently it has pivoted towards crypto, launching one of the world’s biggest corporate solana treasury reserves, holding 2 million SOL as of August 2025.

Why it’s holding SOL:

Upexi has accumulated a massive solana treasury to diversify its digital assets portfolio and gain exposure to one of the fastest-growing smart contract platforms.

The company says it’s solana treasury strategy follows proven success models from companies like MicroStrategy while also capitalizing on the growth of solana.

It’s also a marketing play for the company. Upexi has said it will promote visibility of the treasury through social posts, webinars and podcasts.

2. DeFi Development Corp. (NASDAQ: DFDV)

DeFi Development Corp is a US-based AI-powered online platform providing data and software subscriptions in the commercial real-estate sector.

More recently it has become focused on building up a treasury reserve of solana tokens. It is developing a DeFi platform that will run on Solana.

Why it’s holding SOL:

DFDV sees its treasury strategy as benefiting shareholders by providing exposure to SOL while also growing capital as the token gains momentum.

The company also views Solana as a core infrastructure layer for its upcoming DeFi platform. Its large SOL holding is meant to provide liquidity, staking rewards, and strategic exposure to Solana’s network as it builds out decentralized products.

3. Sol Strategies Inc. (CSE: HODL)

Sol Strategies is a Canadian blockchain investment firm that invests in and provides infrastructure for the Solana blockchain and next gen decentralized apps. In September 2025, Sol Strategies transitioning its primary listing to the Nasdaq under the ticker STKE, so it is no longer exclusively CSE-listed.

It is also one of the biggest corporate solana treasury companies as of 2025.

Why it’s holding SOL:

Sol Strategies is a pure-play blockchain investment company, and SOL is one of its key holdings. The firm sees Solana as an undervalued asset with high throughput and strong developer traction, and uses it in its trading and staking strategies.

4. Classover Holdings Inc. (NASDAQ: KIDZ)

Classover is an edtech company that originally focused on online learning platforms. It has since pivoted toward blockchain education and decentralized learning technologies.

In July 2025 it announced it had increased its SOL holdings by 295% to 52,067.

Why it’s holding SOL:

Classover recently pivoted into the blockchain space and acquired SOL to support new decentralized education technology products. Its growing treasury reflects a commitment to developing Solana-based learning tools.

5. Torrent Capital Ltd. (TSX-V: TORR)

Torrent Capital is a Canadian investment firm that targets early-stage companies in technology and blockchain. It operates as a hybrid between a venture capital and asset management firm.

Why it’s holding SOL:

Torrent is a blockchain investment holding firm, and SOL is part of its diversified crypto portfolio. The company stakes its solana to earn passive yield while supporting network security.

6. SOL Global Investments Corp. (CSE: SOL)

SOL Global is a diversified investment firm with interests in cannabis, technology, and digital assets. It has pivoted toward crypto and Web3 ventures in recent years.

Why it’s holding SOL:

SOL Global has moved aggressively into digital assets, naming solana as a strategic pillar. Its holdings reflect bullishness on solana’s long-term role in tokenized assets and decentralized infrastructure.

What about private companies?

While most of the solana treasury activity we can verify is from public companies, private firms are also increasingly holding SOL. These include Web3 startups, crypto hedge funds, and blockchain infrastructure players. However, unlike listed companies, they’re not required to disclose their holdings, so it’s harder to track.

That said, it’s likely many of solana’s biggest ecosystem partners are holding SOL in some capacity, whether for staking, liquidity provision or treasury diversification.

What does the 2025 crypto market mean for solana treasuries?

After a rocky 2022–2023, solana has staged one of the most remarkable comebacks in crypto.

With its fast transaction speeds and rising adoption in the decentralized app (dApp) space, some analysts are predicting solana will hit over US$800 in the next few years.

Solana’s momentum hasn’t gone unnoticed by the public markets.

Several listed companies, including Upexi (NASDAQ: UPXI), DeFi Development Corp (NASDAQ: DFDV), and Sol Strategies (CSE: HODL) have now bet almost their entire balance sheet strategies on accumulating SOL.

They believe Solana’s low fees and scalability make it a foundational layer for next-gen DeFi, NFTs, and consumer apps.

How do you invest in solana treasury companies?

How do you invest in solana treasury companies?

You can invest in solana-holding companies the same way you’d invest in any other public stock, but there are a few things to keep in mind.

Some of these companies trade on major exchanges like the NASDAQ or CSE, but many are over-the-counter (OTC) stocks. This means you’ll need a broker that supports OTC trading.

These are also mostly small or micro-cap companies, which can make them more volatile, thinly traded, and subject to looser reporting standards. That’s not necessarily a dealbreaker, but it does mean you’ll need to do more homework and be comfortable with the risks.

ETFs: Certain crypto equity ETFs, like the BetaShares CRYP, offer indirect exposure to SOL or companies in the crypto space.

International brokers: Platforms like Stake or Superhero offer access to US-listed solana treasury stocks such as Upexi or DeFi Development Corp.

Always double-check the company’s financials and disclosures to confirm how much of their value is actually tied to SOL — and whether they still hold it.

Our expert says

"Solana treasury companies offer more than just token exposure. Some are building real products and earning real yield. Look beyond the headlines and focus on how SOL fits into their broader strategy."

Kylie Purcell

Senior investments editor

Should retail investors follow corporate SOL strategies?

It’s not a one-size-fits-all approach. But here are the pros and cons:

Frequently asked questions about solana treasury companies

• What is a solana treasury?

  It's when a company holds SOL as part of its financial reserves, either as an investment or to support operations like staking and DeFi.

• Which company owns the most solana?

  As of the beginning of September 2025, Upexi holds the most public SOL with 1.9 million tokens.

• How do SOL holdings affect a company's share price?

  If SOL rallies, treasury-rich firms may benefit. But the reverse is also true during market downturns.

• Is it safer to buy SOL directly or through a company?

  That depends on your goals. Treasury companies offer convenience and regulation, but less direct exposure.

• Where can I track these companies?

  Company investor relations pages, SEC filings, and press releases are your best bet.

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Written by

Kylie Purcell

Senior investments editor

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Kylie Purcell is the senior investments editor at Finder. She has a background in business and finance news with previous roles at SBS, Your Money, TVNZ, Switzer Group and The Adviser magazine. Kylie has a Masters in International Journalism and a Graduate Diploma in Economics. When she's not writing about the markets you can find her bingeing on coffee. See full bio