DeFi Development Corp now holds over 690,000 SOL worth $102.7 million after recent purchases and staking rewards.
The company raised $112.5 million last month to grow its Solana treasury and expand validator operations.
Other firms like Upexi and ReserveOne are also building Solana treasuries as ETF approval chances grow.
DeFi Development Corp. has expanded its Solana treasury again. The company purchased 47,272 SOL tokens worth $7.03 million. The latest acquisition brings its total SOL and SOL equivalents to 690,420 tokens. These holdings are now valued at approximately $102.7 million, including staking rewards.
https://twitter.com/Topnotchcrypto_/status/1942758694611202342 Staking Strategy to Boost Yield Across Validators
The newly acquired tokens will be staked across multiple validators. This includes the firm’s own Solana validators. The move supports the company’s long-term plan to generate yield through native Solana staking. Just five days earlier, DeFi Development Corp. had purchased 17,760 SOL tokens for $2.72 million.
Massive Treasury Growth in Two Months
The company has increased its SOL holdings by 64.1% in the past two months. In May, the treasury stood at 420,690 tokens. This rapid growth reflects the company’s aggressive strategy in building a strong Solana position. DeFi Development Corp. also raised $112.5 million last month. The capital was used to strengthen its SOL reserves.
Other Firms Follow Solana Treasury Strategy
DeFi Development Corp. is not alone in this approach. Several other companies are also investing heavily in Solana. ReserveOne, Upexi, and Sol Strategies have disclosed similar moves. These firms aim to mirror the success of major Bitcoin treasury strategies.
Sol Strategies, currently preparing for a Nasdaq listing, is among those shifting toward SOL. ReserveOne is also building a diverse crypto treasury, including Solana. Upexi has revealed a plan to grow its digital asset holdings with a focus on SOL.
Validator Infrastructure Central to DFDV’s Model
DeFi Development Corp. is aligning its validator infrastructure with treasury growth. The company now holds 690,420 SOL tokens and staking rewards. This translates to 0.0397 SOL per share or $5.90 per share. It plans to hold the tokens long-term to maximize returns.
The company also connects over a million users through its SaaS platform. It serves professionals in the commercial real estate sector. This model combines blockchain participation with real-world software services.
Regulatory Signals Hint at Solana ETF Progress
Meanwhile, a separate 450,000 SOL transfer to Binance occurred the same day as the latest purchase. This raised speculation about broader market activity.
At the same time, the SEC is reviewing proposals for Solana-based ETFs. Issuers must revise and resubmit applications by the end of July. Despite previous delays, approval odds now exceed 90%, according to recent industry estimates.
