Cantor Fitzgerald Doubles Down on Solana: Initiates Coverage for Public Companies Holding SOL Treasuries

Wall Street''s crypto pivot accelerates as Cantor Fitzgerald—yes, the same firm that survived 9/11 and now survives on bond trading fumes—takes a bold stance on Solana.

Solana Goes Corporate

The investment bank just launched equity research coverage for public companies holding SOL in their treasuries. Because nothing says ''innovation'' like legacy finance grading your crypto balance sheet.

Why It Matters

This marks the first major institutional framework for evaluating corporate crypto holdings. Forget GAAP—welcome to the era of ''Proof-of-Stake P/E Ratios.''

The Cynic''s Take

Nothing boosts a stock like a thinly veiled attempt to ride SOL''s volatility. At least they''re not pushing NFT dividends... yet.

Cantor analysts say SOL is a better treasury asset than ETH

Meanwhile, the Cantor analyst noted that Solana will outperform Ether because Solana technology is far better than Ethereum’s on every metric. Thus, it will be a future chain of choice for on-chain finance.

As proof of this, the firm noted that developer growth in Solana has recently exceeded Ethereum’s and expects the trend to continue. Thus, they believe it makes more sense for companies to adopt SOL for their treasury over ETH.

They added that companies that have chosen SOL for their treasuries believe that the asset could one day flip ethereum despite ETH’s market cap currently having 2.5x its market cap.

Interestingly, the analyst did not place Solana on the same level as Bitcoin, noting that Bitcoin has established itself as a foundational reserve asset. Still, a bet on treasury today is an investment in its long-term growth as the transactions network.

They wrote:

“If BTC has solidified itself as the foundational reserve currency, or asset, for the digital economy, Solana aims to be the technology that powers transactions and marketplaces in the digital economy.”

The research note represents a significant endorsement of Solana at a time when the network has seen activity drop. This decline, due to reduced interest in memecoins and the growth of transaction volume on the BNB Chain due to Binance Alpha, has led some experts to be bearish on the network.

Standard Chartered analysts noted last month that Solana might be a one-trick pony if it cannot use its advantage to attract other use cases where low-cost and high-speed transactions are required.

More companies are buying SOL for treasuries

Meanwhile, Cantor’s note appears to push more companies to adopt an SOL strategy. The latest to do that is Hong Kong-listed MemeStrategy, which bought 2,440 SOL tokens for around $369,000.

Despite its minimal investment, the announcement was enough to send its stock soaring more than 28%, reaching HK$2.70. The company has also stated that it plans to provide SOL staking services and is bullish on Solana’s long-term potential.

However, the faith in Solana has not yet been reflected in SOL performance, with the token down 3.24% in the last 24 hours, falling to $151.21. The token has decreased 11.74% in the past 30 days, declining 21.46% year-to-date.

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