Top 10 Solana Treasuries 2025: Biggest Corporate Holders of SOL

Solana (SOL) continues to gain momentum among institutional investors and public companies worldwide. According to the latest data from CoinGecko’s Solana Treasury Tracker, 15 entities across five countries collectively hold more than 17.8 million SOL, worth around $3 billion.

This marks a 255% increase in treasury value from last year, underscoring growing corporate confidence in Solana’s network efficiency, scalability, and expanding role in decentralized finance (DeFi) and tokenized real-world assets.

Here’s a breakdown of the top 10 Solana treasuries as of November 2025!

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1. Forward Industries (FORD.US) — 6.82 Million SOL

Forward Industries leads with 6,822,000 SOL, valued at over $1.15 billion. The company holds 1.23% of the total SOL supply, making it the single largest public holder of Solana.

While known for its consumer design and technology products, Forward Industries has made a strategic move into blockchain assets, signaling long-term confidence in Solana’s ecosystem. 

This massive holding positions the company at the forefront of corporate blockchain adoption.

Read Also: Corporate Solana Holdings: The Rise of SOL as a Treasury Asset

2. Solana Company (HSDT.US) — 2.3 Million SOL

Solana Company ranks second with 2.3 million SOL, worth approximately $388 million. The firm recently increased its position by 100,000 SOL in the past 30 days, according to treasury activity data. 

This steady accumulation reflects Solana Company’s strong conviction in the asset’s potential for growth and its central role in the next wave of Web3 applications.

3. DeFi Development Corp (DFDV.US) — 2.19 Million SOL

At number three is DeFi Development Corp, holding 2,195,926 SOL valued around $370 million. The firm expanded its position by 86,307 SOL this month, further cementing its place among the most active Solana investors. 

As a blockchain-focused enterprise, DeFi Development Corp’s treasury strategy underscores the increasing integration of SOL across decentralized financial infrastructures.

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4. Upexi (UPXI.US) — 2.01 Million SOL

Upexi holds 2,018,419 SOL, worth roughly $340 million. The company’s inclusion among Solana’s top holders illustrates how non-crypto industries are starting to adopt blockchain assets as part of their treasury management. 

This diversification marks a significant step for Upexi, which aims to leverage blockchain exposure for long-term value appreciation.

5. Sharps Technology (STSS.US) — 2 Million SOL

In fifth place, Sharps Technology owns 2 million SOL, valued at about $337 million. Best known for its medical device innovations, the company’s move into digital assets represents an intersection between health tech and blockchain.

Its SOL investment reflects a forward-thinking approach to balancing traditional operations with exposure to decentralized technologies.

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6. Galaxy Digital Holdings Ltd (GLXY.US) — 1.09 Million SOL

Crypto investment giant Galaxy Digital ranks sixth with 1,098,828 SOL, equivalent to about $185 million. The firm, founded by Michael Novogratz, is widely known for its multi-asset crypto portfolio. 

Galaxy’s Solana allocation aligns with its strategy to back leading Layer-1 blockchains, reinforcing institutional confidence in Solana’s performance and ecosystem growth.

7. Phoenix Group PLC (PHX.AD) — 642,000 SOL

Phoenix Group, a UAE-based blockchain and mining firm, holds 642,000 SOL valued at over $108 million.

The company’s involvement demonstrates that interest in Solana extends beyond Western markets. Phoenix Group’s treasury diversification highlights growing Middle Eastern participation in the Solana ecosystem.

Read Also: Bitcoin Treasury List: Companies and Countries Holding the Most Bitcoin in 2025

8. SOL Strategies (HODL.CN) — 523,497 SOL

SOL Strategies, based in Canada, holds 523,497 SOL, worth approximately $88 million. The firm specializes in digital asset investment and risk-managed crypto portfolios.

Its substantial Solana exposure indicates that institutional funds are increasingly considering SOL as a core blockchain asset for long-term treasury diversification.

9. DeFi Technologies (DEFI.NE) — 61,000 SOL

DeFi Technologies, another Canadian firm, maintains 61,000 SOL, equivalent to $10.3 million. While smaller in volume compared to others on this list, its inclusion highlights Solana’s growing relevance across North American investment vehicles. 

The company continues to explore blockchain opportunities through decentralized infrastructure and tokenized product offerings.

Read Also: Ethereum ETFs and Treasury Acquire 3.2% of ETH Supply Since June

10. Exodus Movement (EXOD.US) — 47,502 SOL

Rounding out the top 10 is Exodus Movement, the crypto wallet and exchange platform, with 47,502 SOL worth around $8 million. 

As one of the oldest non-custodial crypto wallet providers, Exodus’s Solana holdings demonstrate its ongoing commitment to supporting blockchain assets with real-world utility and fast transaction throughput.

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Conclusion

The collective Solana treasury across these top 10 companies exceeds $3 billion, a testament to the blockchain’s expanding institutional adoption.

From diversified tech firms like Forward Industries to blockchain-native players like Galaxy Digital and DeFi Development Corp, Solana’s presence in corporate treasuries is no longer marginal — it’s strategic.

As 2025 progresses, Solana’s continued network upgrades, rising developer activity, and expanding DeFi ecosystem could make SOL a permanent fixture in global corporate portfolios.

FAQ

What is a Solana Treasury?

A Solana treasury refers to SOL tokens held by companies or governments as part of their official reserves or corporate balance sheets.

How many companies currently hold Solana?

As of November 2025, 15 companies across 5 countries hold Solana in their treasuries, according to CoinGecko’s Solana Treasury data.

Which company holds the most Solana?

Forward Industries is currently the largest Solana holder with 6.82 million SOL, valued at over $1.15 billion.

Why are corporations buying Solana?

Companies are adding Solana to their treasuries for its strong performance, low transaction costs, and expanding use cases in DeFi, NFTs, and tokenized assets.

Is Solana becoming an institutional asset like Bitcoin or Ethereum?

Yes, Solana’s increasing adoption by publicly traded companies suggests it is evolving into a major institutional blockchain asset alongside Bitcoin and Ethereum.