Forward Industries Amasses Over 6.9 Million SOL in $1.65 Billion Mega-Purchase Backed by Galaxy, Jump Crypto

Institutional giants just placed a billion-dollar bet on Solana's future.

The crypto landscape shifted overnight as a single entity—Forward Industries—snapped up a staggering position exceeding 6.9 million SOL tokens. The capital fueling this move? A colossal $1.65 billion war chest assembled with backing from heavyweight firms Galaxy and Jump Crypto, signaling a seismic vote of confidence in the blockchain's infrastructure.

What the Whale-Sized Purchase Means

This isn't casual accumulation; it's a strategic siege. Acquiring such a volume in one swoop goes beyond mere speculation—it's a direct play on network utility and long-term adoption. The move telegraphs a belief that Solana's high-throughput architecture is poised to capture significant market share from both legacy finance and slower blockchain rivals.

The Institutional Stamp of Approval

Galaxy and Jump Crypto aren't passive bystanders. Their participation transforms this from a large trade into a statement. It provides the kind of credibility that makes traditional fund managers—the ones who still think 'blockchain' is a fancy Excel spreadsheet—finally sit up and take notice. It’s the financial equivalent of a Michelin star, albeit for a digital asset kitchen that occasionally catches fire.

The message is clear: big money is no longer just dipping toes in crypto's waters; it's building hydroelectric dams. While skeptics will call it reckless concentration, proponents see it as validation—a bet that scalability and developer momentum will win the day. After all, in modern finance, the line between visionary conviction and dangerously oversized position is often just a matter of quarterly returns.

Forward Industries now holds over 6.9 million Solana tokens

Forward Industries’ solana treasury strategy was announced in September, and since then, it has rapidly built the largest Solana treasury in the world and established an institutional-grade foundation capable of compounding long-term SOL-per-share, according to Kyle Samani, Chairman of Forward Industries.

“In just a matter of weeks, we have accumulated more than 6.9 million SOL, deployed nearly all of it across our high-performance validator infrastructure launched in October, and implemented tax-efficient strategies that meaningfully strengthened our capital position,” Samani said.

“As we pursue initiatives such as bringing our equity on-chain and executing on accretive M&A, we believe we are well-positioned to continue to expand our SOL treasury and compound SOL-per-share.”

According to him, this is just the beginning, and the company remains committed to delivering sustainable long-term shareholder value as it builds the primary public markets gateway to Solana.

As things stand, Forward Industries Solana holdings make it the largest corporate treasury holder for Solana globally, representing over 1.1% of SOL’s circulating supply, most of which it has staked through its own validator infrastructure, generating 6.82–7.01% gross APY.

It also recently launched fwdSOL, which is a liquid staking token backed by 25% of its treasury to enable DeFi yield optimization without selling underlying assets.

Other notable companies accumulating SOL as a treasury strategy include Upexi, Solana Company, Defi Development Corp, and Sol Strategies. Between them, they hold around $10 million worth of Solana. While Upexi and Defi Development have proven themselves aggressive accumulators, their purchasing power trails behind Forward Industries’.

Operational highlights included in the update

Some of the operational highlights included in the update revealed the company has $1.65 billion private placement in public equity (“private placement”) led by Galaxy Digital, Jump Crypto, and Multicoin Capital. The financing closed on September 11, 2025, and marked the largest Solana-focused digital asset treasury raise to date.

The company has also announced an at-the-market equity offering program and teamed up with financial technology firm Superstate to allow stockholders to tokenize and hold FWDI shares on the Solana blockchain.

As part of the agreement, Forward Industries expects an equity stake in Superstate to further align interests and advance internet capital markets.

Other highlights include the launch of a Forward Industries’ institutional-grade validator on the Solana blockchain, powered by DoubleZero, the establishment of a crypto advisory board with 25 inaugural members, and the authorization of a new share repurchase program to buy back up to $1 billion of the company’s common stock.

Forward Industries FWDI stock price. Source: Google Finance

The company’s stock has also benefited greatly from its pivot to accumulating SOL, with the stock hitting highs around $15–$20 per share in September when the PIPE news came out. The stock is currently trading around $8 per share with a market cap of about $723 million.

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