Pantera Capital is taking steps to create a Solana treasury company, which could change the dynamics of institutional investing in cryptocurrencies.
Pantera Capital's Plans
Pantera Capital is preparing a plan to raise $1.25 billion that could reshape Solana’s position in institutional markets. The firm intends to convert a Nasdaq-listed company into a Solana treasury vehicle. The initial raise will be $500 million, followed by $750 million in warrants. The target company will be renamed 'Solana Co.' and positioned as a public vehicle to hold Solana tokens.
Growth of Solana Treasuries
Recently, there has been growing interest in Solana treasuries from major players. Galaxy Digital, Jump Crypto, and Multicoin Capital are jointly raising $1 billion to create Solana-focused reserves. Currently, the total size of public Solana treasuries is about 3.71 million SOL, worth approximately $700 million. This indicates a rising demand from corporations considering Solana as a long-term asset.
Impact on the Market
Pantera's planned raise could mark the largest corporate Solana treasury to date. It is expected to tighten the token's market supply and help legitimize Solana as an institutional-grade asset. Pantera’s initiative highlights the growing interest in institutional-level exposure to Solana and may change the way digital assets are perceived in traditional finance.
The initiative by Pantera Capital underscores the increasing institutional interest in Solana and has the potential to transform the landscape of digital assets.
