Solana News Today: From Scalpels to Blockchain: Sharps Teams with Coinbase on $400M Solana Treasury

Sharps Technology, Inc. (NASDAQ: STSS) has expanded its digital asset treasury strategy through a strategic collaboration with Coinbase Global, Inc., one of the world's largest digital asset services platforms. The partnership involves the management of over 2 million Solana (SOL) tokens, currently valued at approximately $400 million, as part of STSS's institutional-grade Solana treasury initiative. This move positions Sharps as one of the few public companies actively managing a significant blockchain-based treasury at scale. The company will leverage Coinbase Prime's custody infrastructure and over-the-counter (OTC) trading capabilities to secure and optimize its holdings, emphasizing institutional-grade liquidity and competitive pricing .

James Zhang, Strategic Advisor to STSS, highlighted the strategic rationale for partnering with Coinbase, stating that the platform provides the infrastructure, liquidity, and regulatory compliance required to manage a leading Solana treasury. The collaboration aligns with STSS's broader pivot from a medical device distribution business to a blockchain-focused entity, leveraging capital market raises to generate on-chain yields within the Solana ecosystem . The company's Solana treasury strategy includes plans to utilize Coinbase's services for secure custody, liquidity, and trading, reflecting a disciplined approach to institutional-grade digital asset management .

The partnership places Sharps among a growing cohort of corporate entities building Solana treasuries. While Forward Industries, a consortium backed by Galaxy, Jump Crypto, and Multicoin Capital, holds a larger 6.8 million SOL stake, Sharps' public company status and $400 million treasury position it as a notable player in the sector. Other competitors, including Helius, DeFi Development Corp., and Upexi, also hold around 2 million SOL each, according to market data . The Solana ecosystem has seen direct support from the Solana Foundation through token discounts, though some industry insiders have raised concerns about potential compression of net asset value multiples (mNAV) due to the proliferation of digital asset treasuries (DATs) .

The broader institutional adoption of Solana is underscored by recent developments, including the launch of Solana-based ETFs and collaborations with major firms like Franklin Templeton and Coinbase for custody services. For instance, Bitwise's proposed Solana Staking ETF, with a 0.20% fee and staking rewards, has attracted $6.1 million in inflows over three consecutive days, signaling rising institutional interest . Additionally, Helius, a digital asset treasury firm, plans to acquire 5% of Solana's circulating supply-valued at over $6 billion-to further diversify its corporate treasury strategy . These trends highlight Solana's growing appeal in institutional portfolios, driven by its high throughput, low fees, and expanding decentralized finance (DeFi) ecosystem .

Despite the bullish momentum, Sharps Technology has acknowledged inherent risks, including market volatility for SOL and evolving regulatory frameworks. The company's forward-looking statements caution that outcomes may differ materially due to factors such as price fluctuations, competitive pressures, and legal uncertainties . Analysts have also noted technical patterns, such as a cup-and-handle formation on Solana's price chart, which some predict could push SOL toward $4,800 or $6,300 by 2025–2026 . However, historical data suggests that only 61% of such patterns reach their projected targets, underscoring the need for caution .

Sharps Technology's collaboration with Coinbase reflects a strategic alignment with institutional-grade infrastructure as it transitions into blockchain-based asset management. By leveraging Coinbase's regulated custody and trading solutions, the company aims to enhance transparency and operational efficiency in its Solana treasury. This move aligns with broader market trends toward diversification and on-chain yield generation, as traditional firms increasingly adopt digital assets to hedge risks and create long-term value .

: Sharps Technology Expands Digital Asset Treasury Strategy with Coinbase (https://www.morningstar.com/news/pr-newswire/20251009ny93473/sharps-technology-expands-digital-asset-treasury-strategy-with-coinbase)

: Solana Treasury Company Sharps Technology Taps Coinbase for Custody, Liquidity, and OTC Trading Support (https://www.theblock.co/post/374067/solana-treasury-company-sharps-technology-taps-coinbase-for-custody-liquidity-and-otc-trading-support)

: Sharps Technology Partners with Coinbase to Expand Its Solana Treasury Strategy (https://coinpedia.org/news/sharps-technology-partners-with-coinbase-to-expand-its-solana-treasury-strategy/)

: Solana's Cup-and-Handle Breakout: Could It Signal a 3,000% Price Surge? (https://www.okx.com/learn/solana-cup-handle-breakout-price-surge)

: Solana Price Breaks Out of Cup and Handle, Traders See Big Move Ahead (https://blocknews.com/solana-price-breaks-out-of-cup-and-handle-traders-see-big-move-ahead)

: Solana ETF Fee Cuts and $6B Bet Send SOL Price Into Overdrive (https://invezz.com/news/2025/10/09/solana-etf-fee-cuts-and-6b-bet-send-sol-price-into-overdrive/)

: Solana ETFs Attract $6.1M As Bitwise Adds "Staking" In Filing (https://themarketperiodical.com/2025/10/09/solana-etfs-attract-6-1m-as-bitwise-adds-staking-in-filing/)