- Solana Company aims to acquire over 5% of SOL tokens, valued above $6 billion, marking a major institutional treasury move.
- The firm is preparing for a secondary public listing in Hong Kong within six months to strengthen its Asian market presence.
- Backed by Pantera Capital and Solana Foundation, the firm’s initiative underscores growing corporate adoption of Solana assets.
Helius Medical Technologies, recently renamed Solana Company, has unveiled plans to significantly expand its Solana holdings while pursuing a public listing in Hong Kong. The company’s executive chairman, Joseph Chee, confirmed that the firm intends to accumulate more than 5% of the total Solana token supply, worth an estimated $6 billion. This initiative positions Solana Company among the largest institutional holders in the Solana ecosystem.
The firm currently holds 2.2 million SOL and has earmarked $15 million in cash reserves to increase its cryptocurrency treasury. This strategic expansion reflects growing corporate interest in high-performance blockchain networks as alternative treasury assets. Solana Company’s move comes as several public firms diversify beyond Bitcoin and Ethereum to include next-generation blockchains in their financial strategies.
Listing Strategy in Hong Kong
In a recent statement, Chee confirmed that Solana Company plans to pursue a secondary public listing in Hong Kong within six months, pending regulatory and market conditions. He emphasized that the company seeks to align with Asia’s expanding digital asset infrastructure and capitalize on Hong Kong’s evolving crypto-friendly environment.
Chee explained that the company’s treasury preference leans toward Solana due to its scalability and high transaction throughput, exceeding 1,500 transactions per second. He noted that this performance advantage offers both cost efficiency and long-term value, aligning with Solana Company’s strategic outlook.
Broader Institutional Participation
The firm has also secured institutional backing from Pantera Capital and Xia Yan Capital, alongside a partnership with the Solana Foundation to advance ecosystem development in Asia. Across the market, Solana treasury firms now collectively hold about 17.8 million SOL, representing roughly 3.1% of total supply.
Forward Industries leads with 6.82 million SOL, followed by Sharps Technology with 2.14 million SOL. Other notable participants include DeFi Development Corp. and Upexi, each holding more than 2 million SOL. The accumulation trend highlights Solana’s rising role as a strategic asset for institutional portfolios, suggesting growing confidence in the blockchain’s long-term stability and scalability.
