Solana Company adds $20 million in SOL, touts 7% yield as institutional staking funds hit the market
Quick Take
- HSDT shares have declined by more than 50% this month, even as the company announced higher staking yields.
- Public firms now hold about 16 million SOL, with corporate treasuries continuing to expand across the ecosystem.
Nasdaq-listed Solana Company (ticker HSDT), formerly Helius Medical Technologies, continued to expand its Solana treasury this month, adding roughly 100,000 SOL worth about $20 million to bring total holdings to more than 2.3 million tokens, according to a Wednesday note.
The firm also reported an average of over 7% staking yield, edging out the top-ten validator average of roughly 6.7%.
Despite the onchain gains, HSDT shares have fallen more than 50% over the past month, trading near $6.75 on Wednesday, down from highs above $14 earlier in October, according to Google Finance data.
Solana Company (HSDT) Stock Price. Source: Google Finance
The update arrives amid a wave of institutional access to Solana. Grayscale Investments launched its Grayscale Solana Trust ETF (GSOL) on NYSE Arca on Wednesday, introducing staking for traditional investors, while Bitwise listed its own Solana ETF on the New York Stock Exchange a day earlier. Both funds went live despite the U.S. government shutdown that has curtailed SEC operations.
Other public companies are also expanding Solana-denominated balance sheets.
Forward Industries (FORD), now the largest Solana-focused treasury, recently formed a 25-member crypto advisory board after buying 6.8 million SOL, part of a $1.6 billion accumulation, and filing for a $4 billion at-the-market offering to fund further purchases.
Solmate Infrastructure (SLMT), which rebranded from Brera Holdings, said last week it had secured $50 million in discounted SOL from the Solana Foundation to power a new validator center in the UAE and pursue an "aggressive M&A strategy."
Data from The Block's corporate treasury dashboard shows public companies now hold roughly 16 million SOL, worth about $3.2 billion, up from near zero at the start of 2025.
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