Solana treasuries and ETFs amassed over 28M SOL in 2025, nearing 5% of supply
In 2025, Solana-focused treasury firms and exchange-traded funds accumulated more than 28M SOL, amounting to nearly 5% of the circulating supply. These entities built sizable strategic reserves, shifted toward yield within the Solana ecosystem as stock valuations retreated, and continued net ETF inflows while SOL's price remained below $130. The concentration of holdings and staking activity may shape validator dynamics and broader market sentiment heading into 2026.