Top Public Companies Holding Solana

Which Public Companies Hold The Most Solana (SOL)?

Upexi, Inc. has emerged as the largest publicly traded company holding 1,900,000 Solana (SOL) tokens, accumulated at an average cost of $168.63 per token. Their holdings, now worth $319.5 million, are down $0.9 million.

DeFi Developments Corp (DeFi Dev.) is the second largest holder, with 1,182,685 SOL, accumulated at an average price of $137.07. The company’s Solana treasury, valued at $198.9 million, reflects an unrealized gain of approximately $36.8 million.

SOL Strategies, a Toronto-based investment firm, holds 392,667 SOL purchased at an average price of $158.12, worth $66.0 million today, and is up by $3.9 million in unrealized gains. 

Torrent Capital, while holding a relatively smaller position of 40,039 SOL, is in a slight profit. Acquired at an average price of $161.84, its current value stands at $6.7 million, a gain of approximately $0.2 million.

Together, these four companies now control over 3.5 million SOL, worth more than $591.1 million. This represents nearly 0.65% of the circulating supply and about 0.58% of the total supply. The data highlights a growing trend of Solana exposure among public firms.

How Aggressively Are Publicly Listed Companies Buying Solana?

Upexi

Upexi began aggressively acquiring Solana in late April 2025 and has quickly become the largest Solana treasury company. In just four months, the company accumulated 1.9 million SOL. The average purchase price was $168.63 per SOL, valuing its total investment at $320.4 million.

Upexi's rapid entry and substantial allocation in such a short timeframe suggest a high-conviction bet on Solana’s long-term value. The firm stakes all its SOL, and was earning an 8% yield as of June 30, 2025.

DeFi Development Crop.

DeFi Dev. is the second-largest publicly traded company holding Solana in its treasury, with a total of 609,091 SOL. Their most recent acquisition came on July 29 when they purchased 181,303 SOL for $28.2 million, at an average cost of $155.33 per SOL.

With an average acquisition price of $137.07 per SOL, DeFi Dev’s current holdings are worth $198.9 million. That equates to an unrealized gain of approximately $36.8 million, the highest amongst its peers. The company has not disclosed any intent to sell and continues to add to its Solana position.

SOL Strategies

SOL Strategies began accumulating SOL in mid-2024 and has steadily built its position through a series of acquisitions. From June 2024 to July 2025, the firm acquired 392,667 SOL at an average price of $166.86, through a series of purchases and rewards earned from staking

Unlike other firms that bought in fewer, larger chunks, SOL Strategies’ dollar-cost averaging strategy and regular updates reflect a methodical approach to building long-term exposure.

Torrent Capital

Torrent Capital made a series of early moves into Solana, beginning in January 2025. Between January and April, the firm acquired 40,039 SOL across five transactions, averaging a cost basis of $161.84 per SOL.

Though its position is modest compared to other firms, Torrent Capital’s timing—purchasing before Solana's major rally—has positioned it well. As of August 2025, its holdings are valued at $6.7 million, reflecting a slight unrealized gain.

How Are Public Companies with Solana Holdings Performing Today?

The four publicly listed companies: Upexi, DeFi Dev, SOL Strategies, and Torrent Capital— showing unrealized gains and losses on their Solana positions as of August 6, 2025. 

• Upexi's total investments, which total $320.4 million, are down $0.9 million, with holdings now valued at $319.5 million.

• Defi Dev Corp holds $198.9 million worth of SOL, up $36.8 million from their total acquisition cost.

• SOL Strategies, a firm with one of the most consistent acquisition strategies, holds $66.0 million worth of SOL—an unrealized gain of $3.9 million.

• Torrent Capital, the smallest holder among the four, is up $0.2 million with current holdings valued at $6.7 million.

These positions showcase the benefits of early and sustained entry, with firms like Defi Dev and Upexi clearly capitalizing on favorable market timing.
 

Who Are the Biggest Public Solana Holders Right Now?

The top public companies holding Solana are as follows:

Methodology

This analysis is based on public disclosures from press releases and company websites. Acquisition values were derived from the average reported purchase price at the time of acquisition. The current Solana price is set at $168.15 as of August 5, 2025. Unrealized gains/losses were calculated as:

Unrealized Gain = (Current SOL Price - Avg Entry Price) × Total SOL Held

Only publicly traded companies with disclosed Solana acquisitions were included.

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