Pantera Capital is planning to raise up to $1.25 billion to convert a Nasdaq-listed company into a vehicle for accumulating Solana tokens as a treasury asset. The initiative, reported by The Information, would commence with a $500 million raise, followed by $750 million through warrants. Recently, Pantera disclosed that it deployed approximately $300 million into digital asset treasury firms. The proposed Solana Co. would potentially hold more Solana than all current public treasuries combined, signaling a shift towards institutional interest in Solana. This market move may reshape the perception of Solana, transforming it from a retail-driven chain to one with significant institutional backing. The implications of such concentrated holdings could introduce liquidity risks, possibly affecting how Solana trades during market fluctuations. Additionally, several other firms are also transitioning towards building Solana treasuries, contributing to a growing interest in the token within the institutional landscape.

Source 🔗