SOL gets fresh institutional push as Nasdaq-listed firm expands treasury with $2.7m
Corporate interest in Solana is growing, and DeFi Development Corp. is the latest to announce the addition of more tokens to its growing portfolio.
In a July 3 press release, the company announced the purchase of 17,760 Solana (SOL) worth $2.72 million. The tokens were acquired at an average price of $153.10, and the purchase brings the firm’s SOL holdings to 640,585, valued at approximately $98.1 million.
DeFi Development Corp.’s move marks the resumption of its long-term accumulation strategy, reinforcing its position as one of the largest known public holders of SOL. The newly acquired tokens will be staked across multiple validators, including the company’s own infrastructure, to generate on-chain yield.
Based on its current holdings and 14.74 million shares outstanding, DeFi Dev Corp. now reports 0.042 SOL per share, or approximately $6.65 in SOL-backed value per share. The company’s stock price also rose about 17% following the announcement, reflecting positive investor response.
DeFi Dev Corp. was the first public company to adopt a Solana-native treasury strategy. Beyond holding the token, it operates validator infrastructure and participates in the broader Solana ecosystem.
The adoption comes as institutional interest in SOL gains traction. Last month, Nasdaq-listed Upexi became the largest Solana treasury company, boosting its holdings to 735,692 Solana. The firm also announced that it will tokenize its shares on the Solana blockchain, aiming to offer 24/7 trading, real-time settlement, and expanded investor access via crypto-native wallets.
Others, such as Sol Strategies Inc., which currently holds 40,000 SOL, have set sights on treasury expansion, highlighting the growing confidence in Solana’s long-term value among traditional corporate players.
The wave of adoption appears to be spilling into price action. SOL has climbed roughly 7% over the past week and is currently trading around $151. Despite recording a 2.7% dip in the past 24 hours, the current price marks a modest recovery from its month-long slump.
