Pantera Capital wants to raise 1.25 billion dollars to create a publicly-listed company dedicated to Solana, with an initial 500 million followed by 750 million through subscription warrants.
Crypto corporate treasuries are booming, with Galaxy Digital, Jump Crypto, and Multicoin Capital also preparing to raise 1 billion dollars around Solana.
Pantera has already invested over 700 million dollars in 2025 in Digital Asset Treasuries and is strengthening its multi-blockchain strategy, with a clear priority given to Solana.
A $1.25 billion bet on the Solana ecosystem
Pantera Capital, one of the most influential asset managers in the crypto sector, aims to raise up to 1.25 billion dollars to create a publicly-listed company in the US dedicated to SOL. The project, tentatively named Solana Co., envisions an initial raise of 500 million dollars, followed by an additional 750 million through the issuance of subscription warrants.
The goal is clear: to build the largest corporate treasury in Solana ever assembled. Currently, public companies hold around 3.44 million SOL, equivalent to 650 million dollars. Pantera aims to double that and establish itself as the undisputed champion of this new digital treasury race.
A significant trend: corporate crypto treasuries
This movement is not isolated. Galaxy Digital, Jump Crypto, and Multicoin Capital are already working on a similar plan: raising 1 billion dollars for their own Solana treasury company. In a matter of weeks, Solana has become the preferred playground for crypto finance giants.
Why? Because Digital Asset Treasuries (DAT) are emerging as the new tool for institutional investors. While simply HODLing tokens relies on speculation, a DAT enables generating returns, increasing net asset value per share, and accumulating more tokens over time. For a fund like Pantera, it’s a way to transform asset storage into a growth machine.
Pantera already in an acceleration phase
This massive bet on Solana is no coincidence. Pantera has already invested hundreds of millions in the sector in 2025. The fund notably participated in the $400 million private placement of Sharps Technology, a medical company that chose to build a strategic reserve of Solana. Earlier this month, Pantera revealed investing over 300 million in various DAT companies.
The portfolio is diverse: Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, as well as Ethena. A clear strategy: diversifying while betting heavily on blockchains with the most activity and capital.
A strong signal for the markets
With this project, Pantera is sending a clear message: crypto treasuries are no longer a niche but a structural trend. After Bitcoin and Ethereum, Solana, often criticized for past outages but praised for its speed and growing adoption, could become the star of this new wave of institutional accumulation.
For investors, this is a turning point. If Pantera and its rivals manage to raise their billions, the buying pressure on Solana could reshape the balance among leading blockchains. One thing is certain: summer 2025 will be remembered as the moment when the crypto treasury war officially began.
