Solana Treasury Holdings Surpass $4.3 Billion as Institutional Adoption Accelerates

The prominence of Solana (SOL) in the institutional blockchain landscape continues to grow, with corporate treasuries now holding an impressive 17.11 million SOL, currently valued at over $4.3 billion (approximately ₩5.5743 trillion). This figure represents about 3% of Solana’s circulating supply, which sits at around 600 million SOL, as reported by the Strategic Solana Reserve. The increasing accumulation of SOL by major institutions underscores its rising appeal as a high-potential digital asset.

Leading Solana Holders Reflect Institutional Interest

Cointelegraph revealed on October 16 that Forward Industries has emerged as the largest Solana holder, with more than 6.8 million SOL in its treasury—an equivalent of $1.61 billion (approximately ₩2.2266 trillion). Several other key players, including Sharps Technology, DeFi Development, and Upexi, boast holdings that exceed 2 million SOL each, translating to over $400 million per entity. This demonstrates the widening adoption of Solana among prominent corporate players who view it as a long-term investment opportunity.

Institutional Accumulation Gains Significant Momentum

The ongoing institutional interest in Solana received a major boost last week when Forward Industries announced the establishment of its dedicated Solana Reserve. This move attracted backing from influential firms such as Galaxy Digital, Multicoin Capital, and Jump Crypto. The announcement spurred remarkable buy-side traction, with Galaxy Digital itself making a massive purchase of SOL worth $306 million (approximately ₩4.232 trillion) within a single day.

Further amplifying the narrative, Helios Medical Technologies declared plans to allocate $500 million (approximately ₩6.915 trillion) to its Solana treasury. Primary contributors to this initiative include Pantera Capital and Summer Capital. Dan Morehead, CEO of Pantera Capital, strongly endorsed Solana during an interview, citing its unmatched advantages as “the fastest, cheapest, and most efficient blockchain network.” He also disclosed that Pantera Capital holds Solana positions valued at $1.1 billion (around ₩1.5213 trillion).

Corporate Treasury Comparisons: Solana vs. Bitcoin & Ethereum

Although Solana’s corporate reserves have grown rapidly, they remain dwarfed by those held in Bitcoin (BTC) and Ethereum (ETH), the longstanding leaders in blockchain treasury investments.

According to Bitcoin Treasuries.net, corporate holdings of Bitcoin collectively amount to 3.71 million BTC, valued at approximately $428 billion. This represents 17% of Bitcoin’s capped total supply of 21 million coins, a dominant position showcasing its enduring status as digital gold.

Similarly, Ethereum enjoys substantial institutional adoption, with data from the Strategic Ethereum Reserve indicating that businesses collectively hold around 5 million ETH, currently valued at $22 billion (approximately ₩30.426 trillion). When factoring in ETF-backed holdings, this figure climbs to 6.77 million ETH, valued at approximately $30 billion (₩41.49 trillion).

Despite its smaller scale, Solana’s momentum could signal a shift in market dynamics, particularly as it continues to attract interest from institutions keen on diversifying their blockchain portfolios.

Is Solana Poised to Break $300 Ahead of the FOMC Meeting?

As institutional demand heightens and momentum builds in the lead-up to the Federal Open Market Committee (FOMC) meeting, investors are increasingly speculating whether Solana could surge past the $300 price milestone. The combination of influential endorsements, expanding treasury investments, and Solana’s unique blockchain features may create a favorable environment for substantial price action in the near term.

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