Forward Industries has made headlines by purchasing 6.8 million SOL, marking a $1.58 billion crypto treasury investment.
The Nasdaq-listed company announced that it acquired the tokens at an average price of $232, officially kicking off its strategy of adding digital assets to the corporate balance sheet. According to the statement, all SOL acquired so far has been staked, with the company aiming to generate value through active on-chain strategies rather than passive holding.
As part of its treasury plan, Forward intends to allocate its holdings across staking, liquidity provision, and market-making within the Solana ecosystem. Board Chairman Kyle Samani described the move as “a significant milestone in executing our differentiated Solana-focused treasury strategy.” The purchase also marks the first use of the recently closed $1.65 billion PIPE financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
This step adds to the rapidly expanding crypto treasury trend of 2025. Data from Architect Partners shows that over 150 companies have announced nearly $100 billion in crypto purchases this year. While BTC and ETH remain dominant, SOL is emerging as a key institutional asset, with companies reportedly accumulating nearly 1% of its supply—making it the third-largest category among digital asset treasuries.
