Solana News Today: Pantera Capital to Raise $1.25B for Solana Treasury Vehicle Amid Industry Shift

Pantera Capital is preparing to raise up to $1.25 billion to transform a publicly traded Nasdaq-listed company into a new entity focused on holding Solana tokens as a corporate treasury asset [1]. The firm aims to begin with a $500 million capital raise, followed by $750 million in warrants, according to a report from The Information [1]. This strategic move would create a publicly traded vehicle—tentatively named “Solana Co.”—designed to accumulate and manage Solana holdings in a structured and institutional-grade manner [1].

The proposal aligns with Pantera’s broader strategy to deploy capital into digital asset treasury (DAT) vehicles, with the firm having already invested around $300 million in such efforts across multiple tokens and geographies [1]. The new Solana-focused treasury would mark a significant expansion of that initiative, potentially positioning the entity as the largest single holder of Solana compared to all current public treasuries combined [1]. Such a move could redefine how institutional capital engages with blockchain assets, offering a regulated and liquid alternative to direct token ownership [1].

The plan comes amid a broader trend of smaller Nasdaq-listed firms pivoting into Solana treasuries. For instance, DeFi Development Corp—formerly Janover—has doubled its Solana holdings to over 163,000 SOL, while Classover, an edtech firm, has allocated about 6,500 SOL to its treasury [1]. These moves are part of a $500 million convertible note program dedicated to acquiring and staking Solana. Other firms, including Upexi and DeFi Development Corp, have also expanded their Solana reserves through equity raises [1].

According to CoinGecko data, the total value of public Solana treasuries currently exceeds $695 million, representing approximately 0.69% of the network’s total supply [1]. If Pantera’s proposal is executed, Solana Co. could hold a significantly larger portion of the circulating supply, raising questions about market concentration and its potential impact on liquidity and price volatility [1].

Shawn Young, chief analyst at MEXC Research, noted that such an entity could send a powerful signal to the market, reinforcing Solana’s institutional credibility and signaling a shift from retail-driven adoption to large-scale corporate backing [1]. However, he also warned that concentrated holdings could introduce new risks, such as reduced free float and heightened volatility during market stress [1]. The debate mirrors similar concerns in the Bitcoin space, where companies like Michael Saylor’s MicroStrategy have drawn attention both for legitimizing crypto as an asset class and for centralizing influence over price narratives.

Pantera’s proposed fundraising is still in the early planning stages and subject to regulatory approval. The firm has not yet disclosed the identity of the target Nasdaq-listed company, though it is expected to be a firm with a manageable market capitalization and minimal debt [1]. The initiative reflects Pantera Capital’s ongoing commitment to structuring institutional-grade infrastructure around high-potential blockchains, particularly as the crypto market continues to evolve toward more regulated and transparent investment vehicles [1].

Source:

[1] Pantera Capital Eyes $1.25B Raise to Create Solana Treasury Firm: Report – Decrypt (https://decrypt.co/336832/pantera-capital-eyes-1-25b-raise-solana-treasury-firm)

[2] Pantera Capital Eyes $1.25B Raise to Create Solana Treasury Firm: Report – Yahoo Finance (https://finance.yahoo.com/news/pantera-capital-eyes-1-25b-023914069.html)

[3] Unit Solana Price Chart – CoinGecko (https://www.coingecko.com/en/coins/unit-solana)