• DeFi Development Corp. has increased its Solana holdings to 690,420 tokens worth approximately $103 million, following a $7.03 million purchase of 47,272 SOL.
• This move reflects growing institutional confidence in Solana, fueled by optimism around potential ETF approval and strategic staking opportunities.

DeFi Development Corp. has once again made headlines by significantly increasing its Solana (SOL) holdings. The firm has acquired an additional 47,272 SOL tokens, valued at approximately $7.03 million, at an average price of $149.09 per token.

This latest purchase brings the company’s total SOL and SOL-equivalent holdings to a staggering 690,420 tokens, now worth an estimated $102.7 million.

The newly acquired tokens will be staked across various validators, including the firm’s own Solana validator infrastructure, to generate passive yield. This move aligns with DeFi Development Corp.’s long-term strategy of leveraging Solana’s high-performance blockchain and staking capabilities to build a sustainable treasury.

The purchase of SOL is a key part of our ongoing strategy to grow our holdings in Solana and capitalize on the blockchain’s potential.

the company stated in its press release.

This marks a 64.1% increase in their SOL treasury compared to two months ago, when the company held approximately 420,690 tokens. Just days before this latest buy, on July 3, the firm also acquired 17,760 SOL valued at roughly $2.72 million, further underlining its aggressive accumulation strategy.

Interestingly, the same day the most recent purchase was announced, 450,000 SOL were moved from an unknown wallet to Binance, raising speculation about potential whale moves or strategic reallocations within the market.

ETF Optimism Boosts SOL Momentum

This surge in institutional accumulation comes amid rising optimism surrounding Solana ETFs. The U.S. Securities and Exchange Commission (SEC) has reportedly asked ETF issuers to resubmit filings with amended details by the end of July, signaling that progress toward regulatory approval is underway. According to Coingape, the odds of a Solana ETF being approved have risen to over 90%, despite some regulatory delays.

The potential green light for Solana ETFs has added bullish momentum to the asset, prompting large players like DeFi Development Corp. to increase their exposure ahead of possible institutional inflows.

DeFi Development Corp’s Growing War Chest

Fueling its expansion, DeFi Development Corp. raised $112.5 million in funding last month specifically to build up its Solana treasury. This capital injection has allowed the firm to take bold steps in accumulating SOL and positioning itself as a significant stakeholder in the ecosystem.

They’re not alone—firms like ReserveOne, Upexi, and Sol Strategies have also unveiled Solana treasury strategies, mirroring Michael Saylor’s Bitcoin accumulation model with MicroStrategy. These strategic moves highlight the growing institutional confidence in Solana as a long-term digital asset.

With Solana’s ecosystem expanding and ETF approvals on the horizon, DeFi Development Corp.’s aggressive treasury growth underscores the asset’s rising status in the crypto investment landscape.

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