Upexi Expands Solana Holdings with $17.7 Million Purchase
Upexi, a prominent Nasdaq company and the largest owner of Solana cryptocurrency, has made a significant move by acquiring an additional 100,000 SOL tokens. This purchase, valued at $17.7 million, brings the company’s total Solana treasury to over 1.8 million SOL, worth approximately $331 million at the time of purchase.
The latest acquisition, completed on July 17, demonstrates Upexi’s continued confidence in Solana’s potential. With each SOL token valued at $176.77, the company’s Solana holdings have increased by 147% compared to June 30. Notably, 56% of Upexi’s Solana investments were acquired in a closed form, allowing the company to secure the tokens at a discounted rate.
Unrealized Profits and Growing Interest in Solana
According to Upexi, the company’s total Solana holdings now account for $273 million, with unrealized profits of $58 million. The recent surge in Solana’s price, which has exceeded $190, has contributed to these gains. The cryptocurrency market has experienced significant bullish dynamics, with Ethereum (ETH) leading the charge and surpassing $3,800.
Upexi’s strategy, which involves supporting a treasury based on Solana, has yielded $26 million in annual earnings. The company’s CEO, Allan Marshall, commented on the latest purchase, highlighting Upexi’s success in raising large-scale equity private placements for an altcoin digital asset treasury.
Crypto Treasury Plans and Institutional Interest
Solana, as a “Made in America” cryptocurrency, has garnered considerable attention, particularly in the context of a potential Spot Sol Exchange trading fund. This area is expected to receive significant attention in anticipation of SEC approval. Upexi is not alone in exploring the benefits of a Solana Treasury strategy, as other companies, such as SOL Strategies and Defi Development Corporation, are also examining the potential advantages.
The plans of these companies were created in response to growing institutional interest in crypto. Michael Saylor’s strategy, which involves a Bitcoin (BTC) treasury, has been an inspiration for many, with its value growing to billions. Defi Development Corp has also increased its SOL investments, acquiring an additional 141,383 tokens between July 14 and 20, 2025.
