Pantera Capital is making a huge move in the crypto world, aiming to create a massive Solana treasury worth a whopping $1.25 billion. This shows a significant increase in institutional interest in Solana.
Pantera’s Solana Play
Pantera, a major player in the crypto venture capital scene, is planning a two-stage fundraising effort. First, they’ll raise about $500 million. This money will then be used to buy up Solana (SOL) tokens for a new Nasdaq-listed company, which they’re calling “Solana Co.” They’ll then raise another $750 million through warrants, bringing the total to $1.25 billion. If successful, Solana Co. would become the biggest SOL treasury around.
Pantera has a history of investing in digital asset treasuries (DATs), believing they can generate strong returns. They’ve already invested over $300 million in DAT companies and are also involved in another $400 million Solana treasury effort with Sharps Technology.
The Growing Solana Treasury Trend
Pantera’s move follows a similar announcement from Galaxy Digital, Jump Crypto, and Multicoin Capital, who are planning their own $1 billion SOL treasury. This is a big deal, considering that the current largest Solana treasury holds only around $383 million worth of SOL. This surge in institutional investment shows a significant shift in how big players are viewing Solana.
The digital asset treasury model, popularized by Microstrategy’s Bitcoin strategy, is now extending to other cryptocurrencies. While Bitcoin still leads the way in treasury holdings, Solana is quickly gaining traction. Currently, treasury companies hold about 0.75% of Solana’s circulating supply, compared to over 9% for Bitcoin and 3.4% for Ethereum. This suggests that Solana’s treasury story is still in its early stages.
Current Solana Price
At the time of writing, Solana (SOL) is trading around $190, down slightly in the last 24 hours.
