Solana News Today: Pantera Launches $1.25B Raise for Largest Public Solana Treasury Vehicle

Pantera Capital is set to launch what would become the world’s largest publicly traded Solana treasury through a $1.25 billion fundraising initiative, according to multiple sources [1][2][3]. The firm plans to restructure a publicly listed company into a new entity focused exclusively on Solana, tentatively named Solana Co. [2][4]. The fundraising is expected to occur in two stages: an initial $500 million round followed by a second phase of $750 million via warrant issuance [2][4]. If successful, this move would position Solana Co. as the largest corporate holder of Solana’s native token (SOL), surpassing existing public holdings of around 3.44 million tokens, or $650 million at current prices [2].

This initiative aligns with a broader trend of institutional investors shifting toward structured crypto treasury strategies. In a closely timed development, Galaxy Digital, Jump Crypto, and Multicoin Capital have also reportedly begun discussions to raise $1 billion for a joint Solana treasury, indicating that the concept of large-scale token treasuries is expanding beyond early adopters like MicroStrategy with Bitcoin [2]. Pantera, however, is taking a more focused approach by building a dedicated vehicle around Solana, leveraging its prior experience in digital asset treasuries.

Pantera has already demonstrated its commitment to the model by investing over $300 million in Digital Asset Treasuries (DAT) firms this month [5]. The firm is also supporting Sharps Technology, a medical device company planning to build a $400 million Solana reserve. Pantera argues that DATs offer advantages over direct token ownership by deploying assets into yield-generating strategies, potentially increasing net asset value per share and enhancing long-term exposure for investors [5].

The proposed structure for Solana Co. mirrors that of a DAT, suggesting that the firm aims to create a scalable, institutional-grade vehicle for Solana. This aligns with a broader shift in how institutions are treating digital assets—not merely as speculative assets but as integral components of corporate balance sheets. The use of warrants in the fundraising phase also reflects an innovative capital-raising approach, potentially reducing initial dilution and enabling a more controlled build-up of Solana’s treasury.

While Solana is the primary focus, Pantera’s broader DAT investments span multiple assets including Bitcoin, Ethereum, BNB, Toncoin, Sui, Hyperliquid, and Ethena [5]. However, Solana Co. would represent the firm’s most concentrated single-bet on one blockchain, underscoring its conviction in the Solana ecosystem and its potential for institutional adoption [5].

The move highlights an accelerating convergence between traditional finance and blockchain-based infrastructure. By creating a publicly traded entity built around a digital asset, Pantera is not only betting on Solana’s future but also helping to define how traditional corporations might integrate digital assets into their core operations [2][6]. If the $1.25 billion raise is successful, Solana Co. could become a flagship example of a new institutional model for crypto ownership—one that is structured, scalable, and designed to appeal to a broad range of investors [6].

Source:

[1] Pantera Leads $1.25B Raise for Solana Treasury as ...

(https://www.ccn.com/news/crypto/pantera-leads-1-25b-raise-solana-treasury-institutional-interest-accelerates/)

[2] Pantera Capital Plans $1.25B Raise to Build Nasdaq-Listed ...

(https://finance.yahoo.com/news/pantera-capital-plans-1-25b-063023248.html)

[3] Pantera Capital Targets $1.25B to Create Largest US- ...

(https://thecryptobasic.com/2025/08/26/pantera-capital-targets-1-25b-to-create-largest-us-listed-solana-treasury/)

[4] Solana News Today: Pantera Launches $1.25B Raise to ...

(https://www.ainvest.com/news/solana-news-today-pantera-launches-1-25b-raise-create-largest-public-solana-treasury-vehicle-2508/)

[5] Pantera's Big Bet: $1.25 Billion for Solana Co. Launch

(https://coinpaper.com/10720/pantera-capital-could-create-the-largest-corporate-solana-holder-with-1-25-b)

[6] Pantera Capital Targets $1.25 Billion to Convert Public ...

(https://www.xt.com/en/blog/post/pantera-capital-targets-1-25-billion-to-convert-public-company-into-solana-focused-digital-asset-treasury)