Catenaa, Sunday, September 21, 2025- Forward Industries has completed its first major Solana acquisition, amassing 6,822,000 SOL tokens worth $1.58 billion and creating the largest publicly traded Solana treasury.
The New York-based medical design firm used proceeds from a $1.65 billion private investment in public equity, financed by Galaxy Digital, Jump Crypto, and Multicoin Capital, to execute the purchase through a combination of on-chain and open-market transactions.
Forward Industries’ acquisition more than triples the holdings of prior leading Solana treasuries, including Upexi and DeFi Development Corp, which each hold roughly 2 million SOL.
The company executed some transactions via Solana DEX aggregator DFlow, signaling its intent to conduct future trades directly on-chain. Shares of Forward Industries rose 1.32% following the announcement and are up over 27% in the last five trading sessions, closing at $36.58.
Multicoin Partner and Forward Industries Chairman Kyle Samani described the milestone as a key step in establishing a differentiated Solana treasury strategy.
He said the plan aims to strengthen the Solana ecosystem while delivering long-term shareholder value.
Forward Industries now holds the largest Solana treasury in the public market, and analysts note that pending approvals for spot Solana ETFs, combined with growing digital asset treasury demand, could drive further price momentum for the blockchain’s native token.
Solana itself has declined 3.5% over the past 24 hours but gained 10% over the past week, remaining one of the top-performing cryptocurrencies by market capitalization.
The purchase underscores growing corporate adoption of digital assets as treasury holdings, marking a new chapter in crypto-backed corporate finance.
