Forward Industries purchased 6,822,000 SOL (about $1.58B at an average $232 per token), making it the largest publicly traded Solana treasury. The move uses proceeds from a $1.65B PIPE and positions Forward as a dominant corporate SOL holder.
-
Largest public Solana treasury: 6,822,000 SOL acquired
-
Acquisition funded largely from a $1.65 billion PIPE backed by Galaxy Digital, Jump Crypto, and Multicoin Capital
-
Average buy price ~$232 per SOL; total cost ≈ $1.583 billion (unlocked tokens, on-chain and market buys)
Forward Industries Solana treasury purchase: 6.82M SOL (~$1.58B) after $1.65B PIPE; learn how this reshapes corporate crypto treasuries. Read more.
What is Forward Industries’ Solana treasury purchase?
Forward Industries’ Solana treasury is a corporate reserve of SOL established after the firm bought 6,822,000 SOL at an average price of $232 per token, creating the largest publicly traded Solana treasury. The company funded most purchases from proceeds of a $1.65 billion PIPE completed with institutional backers.
How did Forward Industries acquire nearly 7 million SOL?
Forward Industries used proceeds from a $1.65 billion private investment in public equity to buy 6,822,000 unlocked SOL. The firm combined on-chain transactions and open-market purchases, including a reported $1 million executed via a Solana DEX aggregator. The total acquisition value is approximately $1.583 billion.
Deal financing and partners: Financing participants named by Forward include Galaxy Digital, Jump Crypto, and Multicoin Capital. Multicoin Partner and Forward Industries Chairman Kyle Samani said the purchase launches a differentiated Solana treasury strategy aimed at both ecosystem support and shareholder value.
Why does this matter for the Solana market and investors?
Forward’s nearly 7 million SOL more than triples prior named public treasuries (Upexi and DeFi Development Corp at ~2M SOL each), concentrating a meaningful supply on one public balance sheet. Shares of FORD rose modestly on the news, reflecting investor interest in corporate crypto treasury strategies.
Frequently Asked Questions
How many SOL does Forward hold now compared to other public treasuries?
Forward Industries holds 6,822,000 SOL. That figure is roughly 3.4x the ~2 million SOL reported for other public treasuries such as Upexi and DeFi Development Corp, making Forward the largest publicly traded Solana treasury.
Will Forward make more on-chain purchases?
Forward signaled it expects additional on-chain activity, citing “best execution” for trades and a desire to perform native on-chain operations that can benefit shareholders and the Solana ecosystem.
Key Takeaways
- Scale: Forward’s 6.82M SOL (~$1.58B) creates the largest publicly traded Solana treasury.
- Funding: The acquisition was primarily financed via a $1.65B PIPE with institutional participants.
- Market impact: The purchase concentrates supply on a single public balance sheet and may influence institutional interest in SOL and potential ETF demand.
Conclusion
Forward Industries’ acquisition of nearly 7 million SOL marks a pivotal corporate treasury move, funded by a $1.65B PIPE and executed through a mix of on-chain and market purchases. This positions Forward as the dominant publicly traded Solana treasury and may influence both investor sentiment and institutional demand for SOL. Monitor company disclosures and market data for updates.
Summary comparison table
| Entity | SOL Holdings | Approx. USD Value |
|---|---|---|
| Forward Industries | 6,822,000 SOL | ~$1.58B (avg $232) |
| Upexi (publicly noted) | ~2,000,000 SOL | ~$464M (at $232) |
| DeFi Development Corp (publicly noted) | ~2,000,000 SOL | ~$464M (at $232) |
