A new Solana treasury company is preparing to enter the public markets, continuing the recent trend of publicly traded companies pivoting to digital asset treasury strategies.
Today (September 15), Helius Medical Technologies (NASDAQ: HSDT), a neurotechnology company, announced its plans to raise $1.25Bn via a private share sale, aiming to accumulate Solana. The deal involves $500 million in available capital and $750 million in warrants for future SOL purchases.
🚨 JUST IN: DAN MOREHEAD OF @PanteraCapital IS SET TO PURCHASE $1 BILLION+ OF $SOL FOR NEW SOLANA TREASURY STRATEGY (DAT) VERY SOON.#SOLANA ⚡️ pic.twitter.com/HkKtcDEdHq
— curb.sol (@CryptoCurb) September 13, 2025
Pantera and Summer Capital Led the $1.25Bn Raise on Behalf of Helius
Pantera Capital, one of the largest venture capital firms in the crypto space with over $5 billion in AUM (assets under management), along with Summer Capital, an investment firm based in Hong Kong, led the fundraising effort. Other participants included the crypto prime brokerage FalconX, the venture investor Animoca Brands, and some other players within the web3 space.
As part of the agreement, Joseph Chee, founder and chairman of Summer Capital, will become the chairman of Helius Medical Technologies’ board. Cosmo Jiang, a general partner at Pantera, will also join the board as a director, while Dan Morehead, founder and CEO of Pantera, will serve as a board advisor.
“We believe we have the right foundation to become the leading Solana DAT (Digital Asset Treasury), if not one of the two or three leading firms in the space,” Jiang told the Fortune publication in an interview.
Helius Medical Technologies represents the latest entry in a growing trend within the crypto sector. Small to medium-sized publicly traded companies are pivoting to DATs by loading their balance sheets with various cryptocurrency assets.
This strategy was popularized by Strategy (formerly MicroStrategy) when its founder, Michael Saylor, announced in 2020 that his company was adding Bitcoin to its balance sheet. Investors began to view shares of Saylor’s company as a proxy for Bitcoin, leading to surges in its stock price alongside rising Bitcoin values.
Saylor’s success has inspired numerous imitators, including public companies that have been convinced to purchase Bitcoin. Others have followed his approach by creating DATs focused on more niche cryptocurrencies like XRP, Dogecoin, and, more recently, BNB.
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Helius Entering a Crowded Space With Solana DAT Plans: Is There Room For One More?
Proponents argue that new firms offer investors access to cryptocurrencies that they typically cannot trade through their brokerage accounts. However, critics contend that digital asset treasuries are just a passing trend.
The market is becoming extremely crowded, and the Solana-focused firm from Pantera and Summer Capital is not even the largest in this space. Early entrants, such as Upexi and a recently established fund chaired by Kyle Samani, managing partner at Multicoin Capital, which raised $1.65 billion last week, are also part of the competition.
Per CoinGecko, there are eight publicly traded firms holding SOL as part of a treasury strategy, with DeFi Development Corp. (DFDV.US) holding over 2M SOL worth over $479M, with the firm being up over 100% on its SOL purchases.
The eight firms in question hold a combined 1.21% of the Solana supply, which is likely to shoot up once Helius gets going and begins its SOL buying spree.
SOL is currently trading for around $235, following a +26% surge in the past 30 days. The increase in Solana DATs, the revival of the PUMP crypto token, and the wider Pump.fun ecosystem have led to a bullish uptrend for the fifth-largest digital asset by market cap.
BONUS: Is Snorter Bot (SNORT) The Best Solana Beta Play Following The Rise in SOL Treasury Firms?
With the SOL price on the rise due to the influx of publicly traded firms stocking up on the digital asset, Snorter Bot (SNORT) might be the best Solana beta play as we head into Q4 and the much-anticipated altcoin season.
SNORT is a new Telegram trading bot that provides traders with all the tools needed to find the next WIF or BONK
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. Both coins are up over +10,000% from their respective launches and are now firmly positioned as leading Solana memecoins.
SNORT is the perfect play for the on-chain Solana ecosystem, owing to its ideal blend of being a viral meme coin and offering a market-leading trading bot. It allows users to buy, sell, snipe, and even copytrade, all lightning-quick and directly from the Telegram app.
Holders of the SNORT token will have access to market-leading trading fees of just 0.85%, which outperform those of Trojan, Maestro, Banana Gun, and BONKBot.
It has raised over $3.95M since its ICO went live, with $4M looking to be a foregone conclusion as whales continue to pour hefty amounts of investment into the presale. A more ambitious short-term target for SNORT is $5M, which is a real possibility before September comes to an end.
Snorter Bot has built-in MEV protection, an innovative sniper tool, and a copy-trade function. It allows users to follow their favourite wallets and influencers deep into the trenches.
Investors seeking a passive income opportunity on their SNORT presale bag can stake their tokens for a juicy 119% APY. This gives SNORT investors a juicy yield on their presale bag, making it a clear number one contender for the best Solana play for the rest of 2025 and into 2026.
Visit SNORT HereEXPLORE: Best Meme Coin ICOs to Invest in June
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