Haciyev Reşit 
Pantera Capital is planning to raise up to $1.25 billion in capital to establish a Solana (SOL) treasury company listed in the U.S. This initiative is seen as a significant step in institutional Solana investments and is attracting attention in the digital asset market.
Investment Plan and Strategy
Pantera Capital’s plan is two-fold:
- Initial Raise: $500 million.
- Follow-Up: Raise an additional $750 million through warrant issuance.
This strategy could potentially create the world’s largest institutional Solana treasury. Currently, publicly listed Solana companies hold about 3.44 million SOL, valued at approximately $650 million.
Trend in Digital Asset Treasury Companies
Pantera’s initiative coincides with Galaxy Digital, Jump Crypto, and Multicoin Capital raising $1 billion for Solana. This reflects the growing trend of institutional capital flowing into digital asset treasuries. Digital asset treasury companies are no longer just for early movers; established large firms are now allocating significant capital as well.
Pantera Capital’s Recent Investments
- Sharps Technology: Pantera participated in a $400 million private placement to establish a Solana stake for the medical device company Sharps Technology.
- DAT Investments: Earlier this month, Pantera invested over $300 million in digital asset treasury (DAT) companies.
Pantera emphasizes that DATs can increase net asset value per share, offering token holders higher potential returns. According to the company, holding a DAT may yield higher gains compared to directly holding tokens or via an ETF.
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