Pantera Capital is seeking to raise $1.25 billion for a Solana treasury, adding to the wave of institutional momentum building behind the asset.
Pantera Capital is an American venture capital and hedge fund specializing in digital assets and blockchain technology. The firm became the first to launch a cryptocurrency fund in the US back in 2013 and today, it manages over $4.8 billion in assets.
In a letter earlier in the month, Pantera disclosed it has invested over $300 million in digital asset treasury (DAT) companies. The firm said its investment thesis was based on a simple premise: “DATs can generate yield to grow net asset value per share, resulting in more underlying token ownership over time than just holding spot.”
Upexi is currently the largest Solana treasury company with around 2 million tokens (about $383 million at the latest exchange rate), so the proposal from Galaxy and others would have already more than doubled the record. Now, Pantera’s plan could surpass even that.
With Galaxy and partners, Pantera, and Sharps all unveiling Solana treasury plans, there now seems to be a real shift in institutional momentum behind the cryptocurrency.
From the chart, it’s visible that the same figure sits at more than 9% for Bitcoin and about 3.4% for Ethereum. Thus, it seems SOL is still quite early in the treasury push.
At the time of writing, Solana is floating around $190, down over 3% in the last 24 hours.
