Helius, Solana Treasury Firm, Aims for 5% Supply and Plans Public Listing to Boost Strategy

Helius, the treasury firm for Solana, is advancing its digital asset strategy with an ambitious plan to acquire 5% of all SOL tokens, along with intentions of a public listing in Hong Kong.

Helius Medical Technologies, now operating as Solana Company, is significantly enhancing its treasury strategy. Executive Chairman Joseph Chee revealed in a recent interview that the company intends to acquire up to 5% of the total Solana supply, which is valued at more than $6 billion, positioning itself as a notable institutional entity within the ecosystem.

Chee also indicated plans for a secondary public listing in Hong Kong over the next six months, depending on market evaluation and regulatory requirements. “We plan to enter this market as soon as possible,” he stated, reflecting a strategic alignment with the growing crypto infrastructure in Asia.

The executive elaborated on the preference for a Solana treasury rather than one based on Ethereum, noting Solana’s remarkable transaction capacity of over 1,500 transactions per second, which he believes offers enhanced scalability and cost-effectiveness. He emphasized that this focus on performance aligns with the company’s long-term goals for ecosystem advancement.

Furthermore, the firm has received backing from institutions like Pantera Capital and Xia Yan Capital, and has established a partnership with the Solana Foundation to foster ecosystem development throughout Asia.

Solana treasury initiatives gain momentum

This new initiative builds on Solana Company’s recent update that it holds more than 2.2 million SOL (SOL) and intends to allocate $15 million in cash to improve its digital asset treasury.

The rising institutional interest in SOL is a significant trend as companies seek alternatives to Bitcoin and Ethereum to diversify their treasuries with innovative blockchains. Collectively, Solana’s digital asset treasury firms (DATs) currently control 17.8 million SOL, or 3.10% of the total supply.

Spearheading this effort is Forward Industries with 6.822 million SOL, followed by Sharps Technology with 2.140 million SOL. Other notable institutions, such as DeFi Development Corp. and Upexi, also hold more than 2 million SOL each.

This proactive accumulation of Solana by institutional players signals a maturing crypto market, where diversifying into various digital assets is becoming increasingly prevalent. As more public companies trend towards acquiring high-performance blockchain assets like SOL, its importance as a strategic treasury asset may elevate, potentially shaping the ecosystem’s future growth.