Catenaa, Saturday, August 30, 2025- Small-cap medical device firm Sharps Technology announced Monday that it is raising over $400 million to establish what it claims will be the largest Solana digital asset treasury, sources said.
The private placement, expected to close August 28, includes institutional investors ParaFi Capital and Pantera Capital and will use a PIPE structure to purchase and sell common stock.
Sharps Technology joins a growing group of small-cap firms pivoting to digital asset treasury (DAT) strategies, holding Solana’s native token.
Company shares rose nearly 70% following the announcement, reflecting investor enthusiasm for institutional participation in the Solana ecosystem.
Newly appointed Chief Investment Officer Alice Zhang said the initiative leverages a team with deep ties to Solana and founder-level experience in scaling digital asset platforms.
The company’s strategy parallels other Solana-focused DATs, such as Upexi and DeFi Development Corp., which hold $370 million and $199 million in SOL, respectively.
Industry analysts noted that Sharps Technology’s pivot reflects a broader trend of non-crypto firms adopting large-scale token holdings to diversify balance sheets and enhance liquidity. The firm plans to integrate treasury management with strategic partnerships in the Solana ecosystem, positioning itself as a significant institutional player.
