The development of corporations establishing crypto treasuries is gaining momentum, with Sharps Technology—a small participant within the medical gadget and pharmaceutical sector—being the final to announce a plan to boost $400 million via a inventory sale aimed toward funding Solana (SOL) treasury.
New Solana Treasury In The Makings
The capital increase, which is about to shut on August 28, will successfully remodel Sharps’ inventory right into a proxy for the Solana worth, attracting backing from crypto funding corporations corresponding to ParaFi, Pantera Capital, and CoinFund.
This infusion of over $400 million positions Sharps to doubtlessly turn into the most important holder of Solana amongst publicly traded corporations, surpassing its nearest competitor, Upexi, which holds roughly $394 million within the cryptocurrency.
Related Reading
To additional strengthen its place within the crypto ecosystem, Sharps has appointed Alice Zhang, a enterprise capitalist and co-founder of the crypto smartphone maker Jambo, to its board as the brand new chief funding officer. James Zhang, one other co-founder from Jambo, will function a strategic advisor.
Alice Zhang expressed confidence within the new staff’s capabilities, stating, “We may have a staff with deep ties to the Solana ecosystem and confirmed founder-level expertise in scaling institutional digital asset platforms.”
However, Sharps’ frontrunner standing within the Solana treasury market could also be short-lived. Fortune studies that main crypto gamers, together with Galaxy Digital, Multicoin Capital, and Jump Crypto, are within the strategy of elevating $1 billion to launch their very own Solana treasury firm.
Strategy Expands Bitcoin Holdings
This funding into Sharps is a component of a bigger development the place small public corporations are actively establishing digital asset treasuries, that are primarily swimming pools of cryptocurrency held on their stability sheets.
This development extends to the market’s largest altcoins, together with XRP, Binance Coin (BNB), and The Open Network’s (TON) native token. This technique has taken even larger relevance underneath the US’s management in making a supportive framework for digital property within the nation.
Related Reading
In tandem with these developments, Strategy (beforehand MicroStrategy), the world’s largest company holder of Bitcoin (BTC), introduced on Monday that it had acquired further tokens, taking benefit of the present retrace.
Between August 18 and August 24, the Bitcoin proxy agency disclosed it bought 3,081 Bitcoin for roughly $356.9 million, averaging round $115,829 per token.
Michael Saylor, the driving drive behind Strategy’s crypto investments, revealed that the agency has achieved a Bitcoin yield of 25.4% year-to-date as of August 24, 2025. With 632,457 Bitcoins acquired for roughly $46.50 billion.
As of this writing, Solana misplaced the $200 degree in step with the broader market correction that led the cryptocurrency to retrace almost 5% within the 24-hour time-frame. It now trades at $196, that means a 32% hole from its $293 report excessive.
Featured picture from DALL-E, chart from TradingView.com
