Helius Medical Technologies (NASDAQ:HSDT) announced on Monday the raising of over US$ 500 million in a private round to create a digital treasury dedicated to Solana. The plan aims to raise the amount to US$ 1.25 billion with equity guarantees linked to the agreement.
The funding was led by Pantera Capital and Summer Capital, with participation from relevant investors such as Animoca Brands, FalconX, and HashKey Capital.
With the announcement, Helius's shares soared more than 200% yesterday morning and closed up 141.67% at a price of US$ 18.27. The shares rose another 0.4% during the pre-market on Tuesday, September 16, 2025. Meanwhile, Solana (COIN:SOLUSD) fell 2.80% on Tuesday to US$ 233.62.
The initiative places Helius in the growing wave of Digital Asset Treasuries (DATs), where listed companies accumulate crypto assets like Bitcoin, Ethereum, and Solana. Also on Monday, Forward Industries (NASDAQ:FORD) announced that it acquired 6.8 million $SOL for about US$ 1.58 billion.
The new CEO of Helius, Joseph Chee, founder of Summer Capital and former UBS banker, will lead the transaction alongside Cosmo Jiang and Dan Morehead from Pantera Capital. The goal is to explore yields from Solana via staking, with average rewards of 7%, in addition to operations in DeFi and lending.
Dan Morehead, founder of Pantera, reinforced the potential of the network by stating that Solana is currently the manager's largest position, with US$ 1.1 billion in assets. He emphasized that the blockchain has outperformed Bitcoin over the last four years and can process up to 9 billion transactions per day.
In Morehead's view, only a few layer 1 blockchains will have lasting relevance, including Bitcoin, Ethereum, and Solana. Analysts like Tom Lee from Fundstrat and BitMine evaluate that interest rate cuts by the Federal Reserve should especially boost $BTC and $ETH , although Solana is gaining much of the attention among institutional investors.
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