Unveiling the Public Corporations Holding a Combined $591 Million in Solana Assets
In the dynamic world of cryptocurrency, four significant entities - Upexi, Inc., DeFi Developments Corp, SOL Strategies, and Torrent Capital - have been making waves by accumulating large quantities of Solana (SOL) tokens.
Upexi, Inc., currently holds the largest known Solana treasury, exceeding 2 million SOL tokens, a result of numerous acquisitions totalling over $380 million. The company's strategy revolves around building a substantial Solana treasury to generate staking revenue, targeting about $26 million annually at current 8% yields. Upexi also acquires SOL tokens largely as "locked SOL" with discounts, creating unrealized gains and value for shareholders. The company leverages capital markets aggressively, including a $500 million equity line and $200 million private placement, to fund purchases and expand holdings. Upexi places emphasis on long-term holding, driven by confidence in Solana’s potential for blockchain adoption and regulatory progress in the U.S. Notably, prominent figures such as Arthur Hayes are involved in optimising treasury performance and capital-raising opportunities.
Regarding DeFi Developments Corp, SOL Strategies, and Torrent Capital, no current detailed information about their holdings strategies or reasons for large Solana positions was found. However, given industry trends, such firms typically accumulate large SOL holdings for yield farming and staking rewards on the Solana network, strategic positioning to benefit from anticipated growth and adoption of Solana-based DeFi protocols, and capitalising on Solana’s transaction throughput and ecosystem expansion for long-term asset appreciation.
Upexi began its aggressive accumulation of Solana in late April 2025 and has paid an average of $168.63 per token for a total investment of $320.4 million. DeFi Developments Corp holds 1,182,685 SOL at an average cost of $137.07, making its $198.9 million stake the most profitable among its peers with an estimated $36.8 million in unrealized gains. Toronto-based SOL Strategies acquired 392,667 SOL through a steady dollar-cost averaging approach between June 2024 and July 2025, at an average purchase price of $166.86. Torrent Capital purchased 40,039 SOL in early 2025, with an average cost of $161.84.
The combined stake of these four companies represents nearly 0.65% of Solana's circulating supply and about 0.58% of the total supply. DeFi Dev. recently added 181,303 SOL on July 29 for $28.2 million at $155.33 per token and has given no indication of reducing its holdings. The four companies, Upexi, Inc., DeFi Developments Corp (DeFi Dev.), SOL Strategies, and Torrent Capital, collectively control over 3.5 million SOL tokens.
As Solana (SOL) climbs over 14% in the past month and trades above $180, pseudonymous crypto trader XO described the recent rally as a "strong move up off the recent lows." However, XO noted that Solana (SOL) lacks the "rounded retest type structure" typically preferred for building a firm base. The current trading of Solana (SOL) is amidst a broader market surge.
In summary, Upexi’s strategy is well-documented as a mix of aggressive accumulation, staking revenue generation, and leveraging financing with confidence in Solana’s future, while information on the other entities' holdings strategies is not available from current data.
- Upexi, Inc., a significant player in the cryptocurrency market, has accumulated over 2 million SOL tokens with a strategic aim to generate staking revenue, with a target of about $26 million annually.
- DeFi Developments Corp, along with SOL Strategies and Torrent Capital, are also known for amassing large quantities of Solana (SOL) tokens, often for yield farming, staking rewards, and strategic positioning.
- Investing in Ethereum (ETH) and other DeFi (Decentralized Finance) projects is not the only way to participate in the crypto space; companies like Upexi are leveraging technology to accumulate and hold Solana (SOL) tokens, targeting long-term appreciation.
- The trading activities of cryptocurrencies like Solana (SOL) can be influenced by various factors, including market trends, regulatory progress, and the staking and holding strategies of companies investing in the technology.
