Pantera Capital Aims to Raise $1.25 Billion for Solana Treasury Firm

Pantera Capital, a leading digital asset fund manager, is reportedly working to establish a Solana treasury firm named Solana Co., with plans to raise up to $1.25 billion. The initiative involves converting a publicly traded company into a Solana-focused treasury, starting with an initial $500 million and an additional $750 million through warrant issuance. 

If successful, the move could result in the largest corporate Solana treasury, surpassing the current public holdings of 3.44 million SOL, valued at approximately $650 million. The effort aligns with Pantera's broader push into digital asset treasury (DAT) investments, which the firm claims can yield higher returns compared to holding tokens directly or through ETFs.

This announcement follows similar initiatives in the crypto space. Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly raising $1 billion to establish a digital asset treasury firm focused on accumulating Solana. These developments highlight a growing trend of major corporations and funds deploying significant capital into digital asset treasuries.

Pantera has been actively investing in DAT projects, committing over $300 million earlier this month to various treasury firms. Its portfolio includes tokens like Bitcoin, Ethereum, Solana, BNB, and others, with treasury firms spread across multiple countries. Recently, Pantera also participated in Sharps Technology's $400 million private placement to establish a Solana stockpile.

The strategy reflects a shift in how institutional investors approach crypto, emphasizing structured treasury models to generate yield and grow net asset value over time. Pantera believes this approach offers better return potential than traditional token holdings.

As the competition to dominate the digital asset treasury space intensifies, Pantera's ambitious Solana-focused initiative could set a new benchmark for corporate crypto investments.