Key Takeaways
- Pantera is raising $1.25 billion to convert a public company into a Solana treasury vehicle.
- If the project materializes, the treasury firm would surpass the value of all existing corporate Solana treasuries combined.
- Other firms, including Sharps Technology, are also preparing large Solana treasury moves.
Venture firm Pantera Capital is seeking to raise $1.25 billion to convert a publicly traded company into a Solana (SOL) treasury vehicle, according to reports.
The move follows a recent wave of public firms shifting toward building Solana-based treasuries.
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Pantera’s $1.25 Billion Solana Treasury Plan
According to The Information on Tuesday , Pantera Capital plans to raise a total of $1.25 billion to transform a company into a Solana treasury entity, named Solana Co.
The fundraising effort will begin with $500 million, followed by an additional $750 million in warrants.
Earlier this month, Pantera also deployed $300 million into digital asset treasury (DAT) firms, signaling a broader push into corporate crypto reserves.
At present, the total value of public Solana treasuries is roughly $699 million—about 0.69% of SOL’s circulating supply.
One Entity, Bigger Than the Rest
If Pantera’s proposal materializes, the newly formed Solana Co. would surpass the combined value of all existing corporate Solana treasuries.
This would consolidate what has so far been a fragmented effort into a single dominant entity.
The move could represent a major shift for Solana, potentially mirroring the role Strategy has played in Bitcoin’s corporate adoption.
However, concentrating such a large volume of tokens under one entity also raises concerns over centralization and systemic risk.
“The most important element of a DAT’s success is the long-term investment merit of the underlying token,” Pantera noted.
Solana Treasuries Heating Up
Just as Bitcoin and Ethereum treasuries have become hallmarks of institutional adoption, Solana is now drawing increasing corporate attention.
In a sign of accelerating momentum, U.S.-based medical device company Sharps Technology recently announced plans to raise $400 million through a PIPE deal to establish what it calls the “world’s largest” Solana treasury.
At the same time, major firms including Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly collaborating on a $1 billion Solana-focused treasury.
Their plan involves acquiring a public company and converting it into a dedicated Solana reserve as early as September.
Together, these developments underscore a growing appetite for Solana within corporate balance sheets, echoing the path taken by Bitcoin (BTC) and Ethereum (ETH) in previous cycles.
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