Pantera Capital to Raise $1.25 Billion for New Nasdaq-Listed Solana Treasury Company

Highlights:

• Pantera Capital aims to raise $1.25B to launch “Solana Co,” a Nasdaq-listed Solana treasury firm.
• Pantera already invested $300 million in digital asset treasuries, focusing on long-term growth and higher returns.
• Public Solana treasuries now hold $695 million, with Pantera’s plan potentially becoming the largest treasury globally.

Pantera Capital, a major cryptocurrency investment firm, is planning to raise $1.25 billion to create a Nasdaq-listed company called “Solana Co,” according to a report by The Information. The company’s primary focus will be on acquiring and holding Solana tokens to convert a publicly-traded company into a Solana treasury firm. The plan starts with raising 500 million dollars first, and later another 750 million dollars using warrants, which is a type of financial deal.

Crypto Fund @PanteraCapital Seeks to Raise Up to $1.25 Billion for @solana Deal

Pantera founder, Dan Morehead is seeking to raise as much as $1.25 billion to convert a public company into a Solana investment firm, as a flood of companies race to cash in on the latest hot… pic.twitter.com/HmCrHawyh5

— MartyParty (@martypartymusic) August 25, 2025

Pantera Invests $300M in Digital Asset Treasuries to Maximize Long-Term Token Returns

Earlier this month, Pantera Capital revealed that it had already invested about 300 million dollars into digital asset treasury (DAT) companies. These companies hold different tokens in different regions, and the goal is to increase value and earn profits.

Pantera said that the key to a digital asset treasury (DAT) being successful is whether the token it holds is a good long-term investment. “DATs can generate yield to grow net asset value per share, resulting in more underlying token ownership over time than just holding spot,” Pantera wrote at the time. “Therefore, owning a DAT could offer higher return potential compared to holding tokens directly or through an ETF.”

Pantera Capital has invested over $300 million in digital asset treasury (DAT) companies, which hold crypto on their balance sheets to grow token holdings per share. The firm said DATs can trade at a premium to NAV if investors expect sustained per-share NAV growth. Pantera…

— Wu Blockchain (@WuBlockchain) August 12, 2025

This week, Pantera also worked with ParaFi Capital to support Sharps Technology, a Solana-focused treasury company that is trying to raise over 400 million dollars. This move is happening as more small Nasdaq-listed companies are turning to Solana strategies. 

Pantera’s digital asset treasury portfolio includes Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena, spanning treasury firms across multiple countries. Big investors are showing more interest, with companies like Upexi, DeFi Development Corp, and Bit Mining buying Solana in recent months. 

Growing Popularity of Public Solana Treasuries

DeFi Development Corp, which focuses on real estate financing, switched to digital assets and in July doubled its Solana holdings to over 163,000 tokens, worth about 21 million dollars. Classover, an edtech firm, acquired 6,500 Solana tokens in June under a $500 million initiative to purchase and stake the cryptocurrency. Canadian companies like SOL Strategies and Torrent Capital have also joined in, holding over 68 million dollars worth of Solana.

Overall, public Solana treasuries currently hold over $695 million, representing approximately 0.69% of the total Solana supply, CoinGecko reports. If Pantera raises the money it plans, this amount would grow a lot, making Solana one of the most popular assets in treasury investment strategies. But if one company controls a large amount of Solana, it could make the market more unstable. 

Shawn Young from MEXC Research said that while companies like Pantera attract attention, they also have too much influence on how easily the token can be traded and its price movement. This would be the biggest Solana treasury so far.