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Solana DeFi Sets Record With $12.11 Billion TVL as Institutional On-Ramps Expand

Regulatory clarity on liquid staking is enabling staking-linked products, widening access for treasuries and funds.

Solana DeFi TVL hits all-time high at $12.2B

Overview

  • DefiLlama data shows Solana’s total value locked reached a record $12.11 billion on Sept. 9, surpassing the prior peak from Jan. 23.
  • Seven of the eight Solana protocols above $1 billion in TVL posted double‑digit monthly gains, led by Jupiter ($3.3B), Jito ($3.2B) and Kamino ($3.1B).
  • Forward Industries disclosed a $1.6 billion SOL treasury investment with private placement commitments from Multicoin Capital, Galaxy Digital and Jump Crypto.
  • SOL Strategies began trading on Nasdaq on Sept. 9 after a Sept. 5 approval, offering institutions targeted exposure to the Solana ecosystem.
  • The SEC stated on Aug. 5 that liquid staking tokens are not securities by default, and ETF efforts include Canary’s Marinade-powered filing and VanEck’s JitoSOL proposal from Aug. 22.