enish Dumps All Bitcoin for SOL Treasury, Solana Institute Pushes CLARITY Act

Solana News

A Tokyo Stock Exchange Standard-listed game developer, enish, confirmed on June 9 that it has liquidated its entire blockchain-based bitcoin holding of 8.063 BTC. The company's investor-relations disclosure shows the sale generated roughly 79.27 million yen and booked a loss of about 6.22 million yen against the 85.49 million yen valuation recorded at the end of March 2026. enish first acquired the position in April 2025 for around 104 million yen. Management framed the divestment as a deliberate step to free capital for a Solana-centered treasury program, leaving the firm with no remaining bitcoin on its balance sheet.

Alongside the disposal, enish announced it has opened discussions with SOLPlanet, a Japanese firm specializing in Solana infrastructure and validator operations. The talks center on the Solplanet White Label Validation Program, an enterprise solution that lets companies build and run Solana validators under their own brand. enish intends to evaluate staking optimization for its SOL holdings, the potential to attract external delegation, and whether to develop a standalone validation business. Both parties will also explore connections across the wider Solana ecosystem, spanning staking, delegation and DeFi rails. No binding partnership or revenue commitment has been finalized at this stage.

The treasury push builds on a June 3 decision to launch an 'active treasury' operation anchored by SOL, Solana's native token. enish projects an initial deployment of roughly 720 million yen, rolled out in stages, with the goal of generating recurring yield through consensus mechanism staking rather than passive holding. The firm distinguishes between a conventional 'DAT 1.0' approach reliant on asset-price appreciation and a 'DAT 2.0' model that recycles on-chain income into business growth. Formal commencement was contingent on shareholder approval of articles-of-incorporation amendments at an extraordinary general meeting scheduled for June 9.

Management describes the initiative as a 'flywheel connecting games and Solana,' aiming for synergy between staking revenue and the company's core entertainment business. enish said it selected SOL for its affinity with gaming, citing the network's high throughput, low transaction costs and staking yield opportunities. To finance the buildout, the company is drawing on an April stock-acquisition-rights issuance to EVO FUND, earmarking 640 million yen specifically for SOL purchases, supplemented by a separate April 27 capital raise involving warrants and unsecured private bonds. The combined proceeds are intended to scale the SOL-centered altcoin strategy beyond mere custody.

On the regulatory front, Solana Institute CEO Kristin Smith urged the US Senate on June 9 to pass the Digital Asset Market Clarity Act, known as the CLARITY Act, while keeping its developer-protection provisions intact. Writing on X, Smith argued that open-source developers and blockchain infrastructure providers should not be regulated as financial intermediaries. She maintained that builders who merely publish code hold no customer funds, that validators are not brokers, and that non-custodial wallet providers are not custodians. Smith said the bill has a 'real shot' at clearing the Senate, warning that mishandling it could push developers and the underlying technology offshore.

Smith pointed to an open letter signed by more than 60 crypto executives and founders, including Solana co-founder Anatoly Yakovenko and Solana Foundation head Lily Liu, calling for robust developer safeguards. She also pressed lawmakers to advance the Blockchain Regulatory Certainty Act, which would prevent software publishers from being classified as 'money transmitters' simply for releasing code. Strong protections, she contended, would not weaken enforcement but instead let authorities focus on parties that actually control assets. The CLARITY Act cleared the Senate Banking Committee in May and has been added to the legislative calendar, setting up a possible floor vote later this summer.

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