Pantera Capital seeks $1.25 billion for Solana treasury firm: The Information

Pantera Capital is aiming to raise up to $1.25 billion to establish a U.S.-listed Solana treasury company, according to a report from The Information.

The digital asset fund manager is reportedly planning to convert a publicly-traded company into a Solana treasury firm, tentatively named Solana Co., by raising an initial sum of $500 million, and then another $750 million through warrant issuance.

This could potentially create the largest corporate Solana treasury in the world. Currently, public companies hold 3.44 million SOL, worth around $650 million. 

Pantera's latest initiative also coincides with yesterday's Bloomberg report of Galaxy Digital, Jump Crypto, and Multicoin Capital's ongoing project to raise $1 billion to establish a digital asset treasury firm to accumulate Solana jointly. 

This signals a broader trend of digital asset treasuries moving beyond first movers to larger, established corporations beginning to deploy substantial capital.

Pantera recently invested several hundred million dollars in crypto treasury projects — it revealed Monday that it participated in medical device firm Sharps Technology's $400 million private placement to establish a Solana stockpile.

Earlier this month, Pantera disclosed that it had invested over $300 million into digital asset treasury (DAT) companies.

"DATs can generate yield to grow net asset value per share, resulting in more underlying token ownership over time than just holding spot," Pantera wrote at the time. "Therefore, owning a DAT could offer higher return potential compared to holding tokens directly or through an ETF."

Pantera's DAT portfolio encompasses various tokens, including Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena treasury firms located in various countries.

The Block has reached out to Pantera for confirmation and further comments.