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🔥BULLISH TheBlock

SOL Treasury Hits 8.7 Million as Forward Secures $50M Loan

The company is borrowing against staked SOL and committing up to $50 million to a tokenized housing product to fund further purchases.

Forward Industries added roughly 226,000 SOL through purchases and staking rewards since the end of September, bringing its treasury to approximately 8.7 million SOL, worth about $726.5 million. The holdings represent roughly 1.5% of Solana's circulating supply.

Why it matters

Forward holds the largest SOL treasury among publicly traded companies, ahead of DeFi Development Corp.'s more than 2.6 million SOL. It also secured a two-year, $50 million credit facility from an unnamed U.S. national bank, backed by SOL that will remain staked and earn rewards.

The company committed up to $50 million to USHP, a tokenized product tracking U.S. home prices. Forward plans to use income from the investment to buy more SOL. The Galaxy-Sharplink Onchain Yield Fund also anchored the product's launch.

Market impact

The expansion comes as SOL fell to $82 on Tuesday, its lowest level in almost three months, before recovering to around $83.50. Forward shares also hit a near three-month low of $5.25 and were down more than 28% for the year.

Related tokens
$SOL
$SOL#Solana#CorporateTreasury#Staking

Frequently asked questions

  1. How did Forward increase its Solana holdings?

    Forward added roughly 226,000 SOL through purchases and staking rewards since the end of September.

  2. How does Forward's SOL treasury compare with other public companies?

    Forward holds the largest SOL treasury among publicly traded companies. DeFi Development Corp. holds more than 2.6 million SOL.

  3. What backs Forward's $50 million credit facility?

    The two-year facility is backed by SOL that will remain staked, allowing Forward to continue earning rewards.

  4. How does Forward plan to use income from USHP?

    Forward plans to use income from its investment in USHP, a tokenized product tracking U.S. home prices, to buy more SOL.

  5. How did SOL and Forward shares trade around the announcement?

    SOL fell to $82 before recovering to around $83.50. Forward shares hit $5.25, a near three-month low, and were down more than 28% for the year.

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