13 Public Companies Adopt Solana Treasury Strategy: Can SOL Hit $300 Next?

Thirteen publicly traded companies have adopted Solana as their treasury strategy. The companies hold combined assets of 8.91 million SOL tokens worth $1.80 billion.

This represents 1.55% of Solana’s total supply. The corporate adoption coincides with analyst predictions targeting $300-$600 price levels and pending SEC ETF decisions.

Public Companies Lead Solana Treasury Adoption

DeFi Development Corp leads corporate Solana adoption with 2,027,817 SOL tokens in treasury reserves.

The NASDAQ-listed finance company has a $345.6 million market cap while betting on Solana’s long-term growth. The large holding makes DeFi Development as the largest corporate SOL holder.

Upexi Inc follows closely with 2,000,518 SOL tokens and shows a major commitment from the health technology company.

Sharps Technology Inc holds 2,140,000 SOL tokens despite its smaller $13.9 million market cap. The healthcare and medical instruments company has made Solana a core treasury holding.

Mercury Fintech rounds out the major holders with 1,083,000 SOL and a $469 million market cap.

Sol Strategies Inc operates as a Canadian finance company with 402,783 SOL tokens. The CSE-listed firm maintains a $160.2 million market cap focused on blockchain investments.

Classover Holdings, Torrent Capital, and SOL Global Investments represent smaller, committed corporate adopters.

The remaining companies include iSpecimen Inc with 1 million SOL, Artelo Biosciences holding 45,883 tokens, and BIT Mining Limited with 27,191 SOL.

Analysts Project $300-$600 Solana Price Targets

Multiple crypto analysts are projecting ambitious price targets for Solana extending into 2025.

Cold Blooded Shiller predicts SOL will reach over $300 sooner than market expectations. Jelle points to nearly two years of preparation positioning SOL for price discovery mode.

The analyst targets $600 as Solana breaks through previous resistance levels. Bluntz projects SOL reaching over $500 during Q1 of next year as a reasonable target.

The analyst’s wave count analysis supports higher price levels based on current market structure. This timeline aligns with potential ETF approval catalysts and institutional inflows.

Contrasting views come from analyst Ali, who identifies a rising wedge pattern pointing toward $160. This technical analysis suggests potential downside risk before higher targets can be achieved.

Solana currently trades around the $210 level following a 3% surge in the past 24 hours. SOL price has also jumped 16% over the last 30 days.

SEC ETF Decision Deadline Approaches October 16

The final decision deadline for Solana ETF applications has been set for October 16, 2025.

This date marks the conclusion of all possible regulatory extensions without further delays. The SEC must either approve or deny the applications by this decisive deadline.

Market sentiment remains overwhelmingly positive with prediction markets showing 99% approval odds.

Bloomberg analysts estimate a 95% probability of SEC approval based on regulatory precedents. The optimism comes from successful Bitcoin and Ethereum ETF launches and constructive regulatory engagement.

Eight major financial institutions have submitted Solana ETF applications creating competitive pressure.

VanEck filed the first application in June 2024 with staking provisions included. The “Fidelity Solana Fund” proposal, which included daily NAV computations, was filed by Fidelity.

Franklin Templeton also built better custody frameworks that divided hot and cold wallets.

Grayscale plans to convert its existing $134 million Solana Trust to ETF format with a 2.5% fee structure. 21Shares targets Cboe BZX Exchange listing, leveraging European staking experience.

Bitwise filed direct spot product applications through Form S-1 registration processes. Canary Capital partnered with Marinade Finance to provide exclusive staking services.

Invesco Galaxy submitted joint filings targeting integrated staking rewards for institutional investors seeking Solana exposure through traditional investment vehicles.