In recent years, crypto assets have gradually transformed from 'rebellious outsiders' to the new face of Wall Street. Cryptocurrencies, once shunned by institutions, are now actively being included in corporate treasury portfolios. After Bitcoin and Ethereum gain widespread acceptance, a new competitor arrives in 2025: Solana.
Yes, Solana, once criticized for multiple outages, is now becoming a 'strategic asset' in corporate treasuries, positioned by some as the 'third pillar' after BTC and ETH. This is not hype—this is a clear trend. More and more public companies are making large-scale bets on $SOL and even planning to build their financial infrastructure on the Solana network.
So, the core question is: why choose Solana? Can it really become Wall Street’s new darling? Let’s delve into the logic behind this emerging shift.
A filing that ignited the craze: Solana knocks on Nasdaq's door.
It all started with a seemingly ordinary filing: On June 19, Canadian public company SOL Strategies Inc. submitted Form 40-F to the U.S. Securities and Exchange Commission (SEC), preparing to list on Nasdaq under the code 'STKE'. This company is deeply tied to the Solana ecosystem—not just as a passive holder, but as an on-chain validation node operator and infrastructure provider.
On the surface, this is just an IPO company. But for insiders, it sends a strong signal: corporate treasuries are no longer satisfied with merely 'holding Bitcoin'. They are integrating cryptocurrency into their core business models by operating infrastructure and participating in ecosystem development.
SOL Strategies is not alone. Companies like DeFi Development Corp and Upexi have also announced large-scale strategic allocations to $SOL and are building businesses directly on Solana. We are witnessing the third wave of corporate crypto treasury allocations.
The evolution of corporate treasuries: from holding to deep integration
To understand why corporations choose Solana, we first need to look at the three stages of evolution in corporate crypto treasury strategies.
Stage 1: Bitcoin—The narrative of digital gold
The earliest corporate adopters—MicroStrategy, Tesla, Block Inc.—viewed BTC as 'digital gold', a hedge against inflation and fiat currency devaluation. During the monetary easing cycle of 2020-2021, Bitcoin was a safe-haven asset. The strategy was simple: buy and hold.
Stage 2: Ethereum—A productive asset generating yield
As Ethereum transitioned to proof of stake (PoS), enterprises began to view ETH not just as an asset but also as a source of yield. For example, Nasdaq-listed company SharpLink Gaming acquired over 170,000 ETH and committed to staking 95% of it, aiming to become the 'Ethereum version of MicroStrategy'. The goal is no longer merely asset appreciation, but earning income through on-chain activities. This symbolizes a shift from passive holding to productive deployment.
Stage 3: Solana—The Financial Operating System
Now it is Solana's turn, representing the next phase: enterprises are no longer just holding or generating yield—they are building. Companies like SOL Strategies and DeFi Development Corp are using Solana as core infrastructure, operating validation nodes, providing services, and becoming key contributors to the ecosystem.
This is no longer simple asset management, but a strategic business model. They are not investing in cryptocurrency; they are becoming operators of cryptocurrency.
Why are enterprises making heavy bets on Solana?
The shift of enterprises toward Solana is not merely FOMO (fear of missing out). There are three major drivers behind this trend:
1. $SOL is both an asset and a business engine.
For companies like SOL Strategies, $SOL is not just a line item on the balance sheet—it is the fuel driving validation node operations. They use internal funds to operate validation nodes, attract others' $SOL delegations, and earn income through block rewards and commissions.
This is not speculative trading—this is operational income. It transforms corporate treasuries from passive investors to active blockchain operators, similar to directly embedding Bitcoin mining equipment into the corporate structure.
2. The technical advantages of Solana are undeniable
Every strategic bet requires a strong technological foundation. Investment bank Cantor Fitzgerald recently stated that Solana 'outperforms Ethereum on all technical metrics'. This is a bold statement, but it is backed by facts:
Solana currently supports over 2,000 TPS (transactions per second), while Ethereum supports 20-30 TPS.
Average transaction costs are close to zero—just $0.0001 per transaction.
The upcoming Firedancer validation nodes are expected to boost throughput to millions of TPS.
The protocol is mature and stable, with virtually no need for underlying upgrades.
What does this mean? Solana is capable of supporting high-frequency trading, instant payments, social applications, and mobile-first Web3 applications—industries that Ethereum still struggles to address.
For companies looking to launch on-chain finance, settlement, or consumer applications, Solana can be considered the blockchain closest to Web2 capabilities. Choosing Solana is not just a performance choice—it is a strategic bet on the Web3 infrastructure of the next decade.
3. The tokenization trend: becoming the next Nasdaq
Solana co-founder Anatoly Yakovenko has stated that he hopes Solana will become 'the decentralized Nasdaq'. This vision is rapidly coming to fruition.
We have seen top projects like Worldcoin, Helium, and Jupiter choose Solana for their launches. Regulated real-world asset (RWA) issuers like Superstate are considering issuing tokenized funds on Solana. Even SOL Strategies is exploring tokenizing its own equity on the Solana blockchain.
Yes—you read that right. These companies are not just holding SOL, but also planning to put their own equity on-chain, becoming foundational layers of the decentralized finance ecosystem.
This is not just participation—it is a declaration: 'We are not just using this chain; we are becoming part of this chain.'
Summary
Solana should not be viewed merely as 'an alternative to Ethereum' or a speculative asset. Corporate adoption should not be seen as hype.
The real trend is: corporate treasuries are evolving—from holding cryptocurrency to integrating into ecosystems, then to operating critical infrastructure. With unparalleled performance, strong developer tools, a growing ecosystem, and institutional momentum, Solana is becoming the preferred platform for this transformation.
Solana may never personally replace Bitcoin or Ethereum. But in the impending wave of on-chain finance, it is becoming an indispensable pillar.
So, if you are still asking, 'Is Solana worth buying?'—perhaps a better question is:
In the on-chain economy of the next decade, where do you want to stand? As a holder? A participant? Or a builder?
This article is reprinted with permission from: (Deep Tide TechFlow)
Original title: (Will Solana Become Wall Street’s Next Favorite? A Deep Dive Into Why Corporate Treasuries Are Going All-In)
Original author: SuperEx
Translation: Baihua Blockchain
'Multiple public companies are betting on Solana! Will SOL become Wall Street’s new darling?' This article was first published in 'Crypto City'.
