Key Takeaways:
- Solana Company secures $500M to establish major SOL treasury reserve fund
- Former UBS Investment Banking Asia head Joseph Chee leads institutional push
- Firm targets acquiring 5% of Solana supply worth over $6 billion
- Hong Kong public listing planned within six months pending requirements
Former UBS Investment Banking Asia head Joseph Chee has positioned his firm, Xiayan Capital, for a significant entry into the crypto treasury space. In mid-September, Chee and Pantera Capital acquired Helius Medical Technologies, transforming it into a Digital Asset Treasury company.
The company, now operating as Solana Company, secured over $500 million in funding through a private placement offering backed by Pantera Capital and Summer Capital.
Chee plans to acquire at least 5% of Solana’s total supply, valued at over $6 billion at current market prices. The executive indicated plans for a Hong Kong public listing within six months, pending market capitalization and regulatory requirements.
This initiative represents one of the largest institutional commitments to Solana infrastructure, following similar moves by companies like Forward Industries, which raised $1.65 billion for SOL acquisitions.
Asia-Pacific Institutional Adoption Accelerates
Solana’s institutional growth extends beyond Xiayan Capital’s initiative. Nasdaq-listed DeFi Development Corp recently partnered with Superteam Japan to launch Japan’s first Solana Treasury Company.
VisionSys AI announced a $2 billion plan with Marinade Finance to acquire and stake $500 million worth of SOL within six months. These developments strengthen Solana’s position in corporate digital asset management across Asia-Pacific markets.
According to market data, institutional treasuries now control over 20.9 million SOL tokens, representing approximately 3.64% of the total supply. The collective holdings are valued at more than $4.3 billion at current prices, with companies like Upexi Inc increasing positions by 174% to exceed 2 million SOL tokens. Solana accounted for over 95% of tokenized stock volume in recent months, highlighting growing dominance in institutional asset activity.
Solana trades at $219.72 following a recent 0.98% decline, maintaining support above $200 with resistance near $250. Technical indicators show the On-Balance Volume continues rising, suggesting steady accumulation despite short-term price corrections. Analysts project potential targets of $275-$300 if SOL breaks above current resistance levels.
