Who bought the tokens, what they bought, when it happened, where it landed, why they did it and how they paid for it: Forward Industries, a New York investment firm, completed a Solana treasury acquisition that added 6.822 million SOL to its balance sheet. The Solana treasury acquisition totals about $1.58 billion and was funded through a $1.65 billion PIPE backed by Galaxy Digital, Jump Crypto and Multicoin Capital. The move mixes on-chain transactions and open market purchases and aims to create a publicly traded treasury focused on the Solana ecosystem.
Deal details
The Solana treasury acquisition consists of 6,822,000 SOL acquired both on-chain and in open market purchases. Forward Industries disclosed on-chain transfers, including over $1 million in direct on-chain trades via Solana DFlow. The company says the Solana treasury acquisition will be managed to deliver long-term shareholder value while supporting Solana-native projects and staking strategies.
Backers and financing
Financing for the Solana treasury acquisition came from a PIPE that included Galaxy Digital, Jump Crypto and Multicoin Capital. Kyle Samani of Multicoin described the strategy as building “the world’s largest Solana treasury company.” The involvement of Galaxy and other institutions underlines growing institutional interest in Solana; see coverage of recent institutional flows and the Galaxy buy that helped lift SOL prices Solana (SOL) institutional investment fuels $240 price rally after Galaxy buy.
Market impact
Shares of Forward Industries ticked up after the Solana treasury acquisition was announced, gaining roughly 1.2% on the first trading reaction. The acquisition dwarfs previous public treasuries—surpassing holders with ~2 million SOL—and could shift liquidity dynamics on Solana. Analysts expect further on-chain trades as Forward optimizes execution to minimize market impact. Broader industry moves, such as Nasdaq listing plans and staking yield plays, make this Solana treasury acquisition part of a larger institutional story SOL Strategies Nasdaq listing bets on Solana growth and staking yield.
Why it matters
The Solana treasury acquisition signals a new model: a publicly traded company holding a large native crypto treasury. That structure can channel capital into the Solana ecosystem while offering equity investors exposure to native token performance and staking revenue. For traders and HODLers, the deal reduces supply concentration risk at smaller holders and places a sizable chunk of SOL under corporate governance.
BlockAI contributed this report on a fast-moving Solana treasury acquisition that mixes finance, on-chain execution and ecosystem strategy. Expect more updates as Forward executes additional on-chain transactions and discloses treasury management plans.
Frequently asked questions about Solana treasury acquisition (faq)
How many SOL were bought?
Forward Industries acquired 6.822 million SOL, roughly $1.58 billion at announcement prices.
Who financed the purchase?
A $1.65 billion PIPE including Galaxy Digital, Jump Crypto and Multicoin Capital funded the Solana treasury acquisition.
Were purchases on-chain?
Yes — the transaction combined open market purchases with on-chain trades, including on Solana DFlow.
Sources to this article
Forward Industries (2025) Forward Industries press release: Forward Industries acquires 6.822 million SOL to build Solana treasury, 15 September 2025.
Multicoin Capital (2025) Statement from Kyle Samani on treasury strategy, press comment, September 2025.
Solana blockchain data (2025) On-chain transaction records for SOL transfers, Solana Explorer, September 2025.
