Emre Yumlu 
Institutional accumulation of Solana (SOL) continues to accelerate, with recent data showing that corporate treasuries now hold more than 17.11 million SOL, valued at over $4 billion at current market prices. This represents roughly 3% of Solana’s circulating supply of more than 600 million tokens.
Solana Reserves Exceed $4 Billion
Figures from the Strategic Solana Reserve indicate that corporate entities have amassed $4.03 billion worth of SOL, marking a significant milestone for institutional adoption.
The largest participant is Forward Industries, holding around 6.8 million SOL valued at approximately $1.61 billion. Other firms, including Sharps Technology, DeFi Development Corp., and Upexi, each hold about 2 million SOL, with allocations surpassing $400 million.
Forward Industries Sparks a Wave of Purchases
Forward Industries first announced the creation of its Solana reserve on September 8, a move backed by major crypto-native investors such as Galaxy Digital, Multicoin Capital, and Jump Crypto.
The announcement was followed by a major buying spree, with Galaxy Digital purchasing $306 million worth of SOL in a single day.
Adding to the momentum, Helius Medical Technologies launched its own $500 million Solana reserve, supported by heavyweight investors Pantera Capital and Summer Capital.
In a CNBC interview, Pantera Capital CEO Dan Morehead praised Solana as “the fastest, cheapest, and most efficient blockchain network”. He also revealed that his firm currently holds a $1.1 billion position in SOL.
Comparing Solana to Bitcoin and Ethereum Reserves
While Solana’s corporate reserves are expanding rapidly, they remain far behind those of Bitcoin and Ethereum.
Data from BitcoinTreasuries.NET shows that corporate treasuries collectively hold 3.71 million BTC, valued at approximately $428 billion—equal to about 17% of Bitcoin’s total supply of 21 million.
Ethereum reserves are also significantly larger. Nearly 5 million ETH, worth more than $22 billion, are held by institutions. Additionally, 6.77 million ETH, valued at around $30 billion, are currently held through ETFs.
Solana Gains Institutional Momentum
The latest figures highlight Solana’s growing appeal, not just among retail investors but also within the corporate sector. Crossing the $4 billion reserve threshold signals that Solana is increasingly being viewed as a long-term treasury asset.
Although Bitcoin and Ethereum still dominate institutional portfolios, Solana’s speed, cost-efficiency, and scalability advantages could continue to drive further institutional adoption in the coming years.
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