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- CoinGecko has disclosed in a report that institutions are heavily accumulating Solana (SOL), with Upexi leading the Treasury race.
- BitGo’s report explains that most companies seek to stand out by challenging the norm of adding Bitcoin to balance sheets.
Solana (SOL) is the latest to be caught up in the Treasury trend as institutional giants ramp up their reserves. According to our research, some of these companies are Bit Mining, Upexi, and DeFi Development Corp.
Aggressive Accumulation of Solana by Institutional Giants
BIT Mining Limited is one of the leading crypto infrastructure companies that is transitioning towards Solana treasury operations. According to its latest release, it has purchased 27,191 SOL ($4.89 million) to mark the beginning of this initiative after raising $300 million for SOL acquisition and infrastructure development.
Apart from them, DeFi Development Corp has also confirmed a purchase of 110,466 SOL, increasing its total holdings to 1,293,562 SOL. Additionally, Upexi Inc. has disclosed in a press release that it successfully grew its SOL holding to 2 million SOL, representing a 172% increase. As highlighted in our recent publication, Upexi raised $100M to build a Solana Treasury and staking strategy with the support of some major firms.
On top of the significant level of increase, Upexi’s Chief Executive Officer, Allan Marshall, has disclosed that an additional value is being generated for shareholders through an 8% stake yield.
July was a game-changing month for Upexi, particularly with respect to accretive capital raises and a resulting drastic increase in our Solana treasury.
Commenting on this, CoinGecko highlighted in a blog post that Upexi accumulated 1.9 million SOL in just four months to become the largest Solana Treasury company.
As indicated in our previous news brief, SOL Strategies is one of the first companies that embraced Solana through large-scale acquisitions to build long-term exposure. Between June 2024 and July 2025, SOL Strategies acquired 392,667 SOL at an average price of $166.
According to data compiled by CoinGecko, Upexi currently dominates in Solana Treasury with $320 million acquisition value, followed by DeFi Dev, with $162 million acquisition value.
Pointing out some of the reasons for these aggressive accumulations, crypto firm BitGo revealed in a report that the companies are seeking to challenge the traditional Treasury thinking, which has Bitcoin at the center of most corporate balance sheets. Additionally, they are seeking to generate staking rewards to boost their respective values.
Companies adopting Solana gain exposure to reward-generating digital assets, align strategically with emerging blockchain infrastructure, and differentiate themselves in the marketplace.
At the time of writing, Solana (SOL) was trading at $164 after declining by 9% in the last seven days.
According to analysts, the rising Institutional interest could impact the price in the long run, and position the market value above its all-time high level of $294. As mentioned in our recent market analysis, SOL could peak at $2000 this cycle. However, it would first have to recapture the $212 psychological barrier, as also noted in our earlier post.
