On August 26, 2025, Pantera Capital announced a plan to raise $1.25 billion to establish a digital asset treasury company focused on Solana. According to The Information, this move could position Solana as the new focal point for global institutional capital.

Pantera Capital's $1.25B Solana Investment Kickstarts Global DATs Race

The Largest Solana Treasury in the World?

In the initial phase, Pantera Capital plans to raise $500 million to acquire a US-listed company and transform it into a DATs (Digital Asset Treasuries) firm focused on Solana, to be named Solana Co. Following this, the company will issue an additional $750 million in warrants to complete its fundraising plan.

If successful, Solana Co. will become the world's largest publicly listed Solana treasury, at a time when publicly traded companies collectively hold only about 3.44 million SOL, equivalent to $650 million.

Notably, this news emerged just one day after Galaxy Digital, Jump Crypto, and Multicoin Capital also announced they are in the process of raising $1 billion to establish a Solana accumulation company. This development reflects how the DATs model is increasingly becoming a strategic financial product, attracting not only pioneering funds but also large-capital institutions.

Read more: Digital Asset Treasuries (DATs): The new wave in the world of digital assets

For Pantera, the fund is no stranger to this space. Last month, it participated in a $400 million private placement for Sharps Technology to build a Solana reserve. Before that, Pantera also announced that it had invested over $300 million in other DATs companies.

According to the fund, the DATs model provides a net asset value accumulation yield, allowing investors to own more tokens compared to holding them directly or through an ETF. Pantera's current DATs portfolio spans across major assets like Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena.

The DATs Model in Action

The DATs model works by having publicly traded companies raise capital through stock issuance or other financial instruments. Instead of using this capital for traditional business operations, they acquire digital assets like Solana and hold them on their balance sheet. This effectively allows investors to gain exposure to the underlying crypto asset by owning the company's stock, without the technical and regulatory complexities of direct ownership. This model is seen as an evolution of the traditional crypto ETF, offering a more active and potentially higher-yielding approach to asset management.

The East-West Alliance Behind Solana Co.

According to unofficial sources, Pantera is not alone in this project. Summer Capital and Avenir Group—two financial and investment institutions from Asia—will co-found Solana Co.

• Pantera Capital represents the standard of institutional compliance in the US, bringing governance expertise and connectivity to Western capital.
• Summer Capital, established in 2017, is one of the earliest financial institutions in Asia licensed to invest in digital assets. The fund has invested in HashKey, Immutable, Upbit, and Animoca, and was a founding shareholder of AMINA (formerly SEBA Bank), the first licensed crypto bank in Switzerland.
• Avenir Group, founded by Li Lin (Chairman of Sinohope Technology Holdings), is an emerging investment conglomerate with a global vision, focusing on financial innovation and cutting-edge technology. This group has a presence in the US, UK, Japan, Singapore, and Hong Kong.

This collaboration is expected to build the first integrated East-West DATs platform, with the goal of attracting global capital and implementing a sustainable governance mechanism for the Solana ecosystem. This strategic alliance highlights the global nature of institutional interest in crypto and the effort to create a robust, compliant framework for large-scale adoption.

Disclaimer

This article is for informational purposes only and should not be considered financial advice. Please do your own research before making investment decisions.