Michael Saylor popularized the digital asset treasury, inspiring a wave of followers. Publicly traded firms are now diversifying their balance sheets with different crypto tokens like Ethereum and XRP. Solana has emerged as a top choice for treasury strategies, drawing interest from several publicly traded firms.

Forward Industries holds the largest Solana treasury, with 6,822,000 SOL acquired for nearly $1.6 billion. The firm raised $1.65 billion through a private investment to establish its treasury, with plans to stake all 6.8 million SOL to generate yield for shareholders.

Helius Technologies rebranded as Solana Company, raising $500 million through a PIPE offering to accumulate over 2.2 million SOL. Share prices surged but remain down year-to-date. The firm holds $525 million in cash for future treasury support.

DeFi Development Corporation is the second-largest publicly traded Solana treasury, holding nearly 2.1 million SOL valued at around $472 million. The firm has been active in Solana’s community through acquisitions and partnerships with meme coins like BONK.

Upexi debuted its Solana treasury strategy, raising $100 million initially and adding another $200 million later to accumulate over 2 million SOL. Share prices spiked over 300%, and the firm enlisted Arthur Hayes to its advisory committee for future growth.

Sharps Technology planned to raise $400 million for a Solana treasury, leading to a 40% surge in share prices. The firm acquired over 2 million SOL with the proceeds, establishing a treasury worth around $400 million. The Chief Investment Officer emphasized the team’s expertise in building the treasury.

Read more at Yahoo Finance: The 5 Largest Publicly Traded Solana Treasury Firms