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2mo ago

Solana Company Sets Goal to Amass Up to 5% of SOL, Plans Hong Kong Listing

The Nasdaq-listed firm targets a secondary listing within six months to access Asia-focused investors.

Solana treasury company helius eyes 5% of supply, public listing to boost strategy
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Overview

  • Executive Chairman Joseph Chee said the company aims to acquire up to 5% of the SOL supply, an effort estimated at over $6 billion.
  • Holdings now exceed 2.2 million SOL, with about $15 million in cash earmarked for further accumulation.
  • The company rebranded from Helius Medical Technologies and says it has support from Pantera Capital and Xia Yan Capital, plus a letter of intent with the Solana Foundation.
  • Chee cited Solana’s throughput of over 1,500 transactions per second as a key reason to prefer a SOL-denominated treasury.
  • Institutional SOL treasuries have expanded, with DATs reported at 17.8 million SOL in aggregate and recent large programs by Forward Industries and VisionSys AI.