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American venture capital and hedge fund firm, Pantera Capital, is reportedly pursuing a $1.25 billion fundraising effort to convert a Nasdaq-listed company into a dedicated Solana ($SOL) treasury vehicle.
The move comes as institutional investors continue to increase their crypto exposure. While Bitcoin (BTC) and Ethereum ($ETH) remain top choices, Solana is also gaining traction, with multiple high-profile initiatives signaling a growing trend of corporate adoption.
Pantera Bets Big on Solana with Nasdaq-Listed Treasury Vehicle Plan
According to a report from The Information, Pantera Capital is preparing to raise an initial $500 million from investors. The firm plans to inject the funds into a Nasdaq-listed company, in exchange for new shares for the investors.
The company will then use that money to buy Solana, transforming itself into a publicly traded Solana investment vehicle called ‘ Solana Co.’ To scale further, Pantera structured an option to raise another $750 million via warrants. The firm is also committing $100 million.
This latest move builds on Pantera’s role as one of the most active backers of digital asset treasury (DAT) firms. Previous disclosures show the firm has deployed over $300 million this year across more than 10 such vehicles.
These include Bitcoin-focused Twenty One Capital, Ethereum-committed BitMine and SharpLink, and another Solana-oriented DeFi Development Corp. In fact, earlier this week, Pantera backed Sharps Technology’s effort to raise $400 million to form a Solana treasury.
Meanwhile, Pantera is not alone in this push. BeInCrypto reported that Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly in discussions to raise approximately $1 billion for another Solana treasury vehicle.
The surge in Solana treasury initiatives reflects a broader shift in institutional sentiment. CoinGecko data showed that publicly traded companies have committed hundreds of millions into Solana.
Five companies hold over 3.7 million $SOL ($702 million) in their treasuries, representing roughly 0.69% of the token’s supply. This trend mirrors institutional enthusiasm for Bitcoin and Ethereum, positioning Solana as a leading altcoin for traditional portfolios.
Solana’s treasury momentum comes at a time of market turbulence. Data from BeInCrypto Markets showed that the altcoin has experienced significant volatility over the past month.
Its value has only appreciated by 1%, way below $ETH’s 16.9% rise. At the time of writing, Solana’s trading price was $189.12, down 7.11% over the past day.
Nevertheless, experts continue to keep a positive outlook for Solana’s future.
“Solana is faster (than $ETH). Frankly, when I saw the big debate about stablecoins all being built on $ETH I was like this is a huge oversight. I think Solana is the story for the future as far as stable coins go,” REX Financial CEO Greg King told Bloomberg.
Thus, despite short-term volatility, the rise of major firms building dedicated treasury vehicles is positioning Solana alongside Bitcoin and Ethereum as a core holding in traditional portfolios. Furthermore, market optimism reinforces confidence in Solana’s long-term prospects.
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