Solana Treasuries Surpass $3 Billion, Pantera Leads With $1.1B Stake

Institutional investment in Solana (SOL) is accelerating at a pace not seen since Ethereum’s early adoption cycle. Pantera Capital, Galaxy Digital, and Helius Medical have emerged as the largest institutional backers, collectively lining up more than $3.8 billion in Solana-related holdings and commitments.

The surge highlights Solana’s growing reputation as a blockchain built for speed, scale, and financial throughput, fueling narratives that it could underpin a new layer of global finance.

Pantera Capital CEO Dan Morehead confirmed Solana is now the firm’s largest single position, worth $1.1 billion.

Morehead described Solana as “the fastest and best-performing blockchain,” claiming it has even outpaced Bitcoin over the past four years. He cited Solana’s ability to process 9 billion transactions per day, more than all global capital markets combined, as evidence of its scalability.

Pantera, which began with 100% Bitcoin exposure before adding Ethereum, has signaled it remains open to future networks but believes Solana is currently the performance leader.

Helius Medical Technologies in an oversubscribed PIPE round led by Pantera, with support from major investors including Animoca Brands, Arrington Capital, FalconX, Summer Capital, and HashKey Capital.

The deal includes $750 million in stapled warrants, giving Helius the option to expand its Solana treasury to $1.25 billion. The move reflects a broader trend of public companies building significant Solana positions as part of their treasury strategies.

Galaxy Digital has also its SOL holdings, acquiring $1.55 billion worth of tokens in just five days.

That includes a massive $306 million purchase on Sunday, involving 1.2 million SOL tokens transferred to custody platform Fireblocks.

The buying spree coincides with Galaxy’s $1.65 billion investment in Forward Industries, which recently pivoted into building one of the largest Solana treasuries among public firms.

With Pantera’s $1.1B position, Helius’s $1.25B treasury plan, and Galaxy’s $1.55B accumulation, institutional demand for Solana has reached levels not seen before.

These flows mirror the kind of early institutional inflows that helped transform Bitcoin and Ethereum into core digital assets. For Solana, the next test will be sustaining this momentum through ecosystem growth, developer retention, and macro market shifts.