Solana treasury firm Upexi's SOL holdings climb above 735,000 as it eyes tokenized equity
Quick Take Solana treasury company Upexi said it holds 735,692 SOL, an 8.2% increase from the holdings it reported at the end of May. Upexi’s stock price has remained below $4 a share after plummeting about 60% when investors filed to offload millions of shares.
Upexi, a company holding Solana as part of its corporate treasury, said Tuesday that it held 735,692 SOL at the end of June, an 8.2% increase from May.
The company’s stock has traded below $4 a share since plummeting about 60% when investors filed to sell millions of shares. Upexi briefly surged above $15 last month before retreating.
Upexi is part of a small group of firms trying to mirror Strategy's success as a Bitcoin treasury firm, but by focusing on altcoins like Solana. Strategy's stock price has soared along with the price of Bitcoin. Other companies pursuing stockpile-Solana strategies include DeFi Dev Corp and Canada's SOL Strategies.
"June was a particularly active and successful month,” Upexi CEO Allan Marshall said in a statement. “We delivered on key initiatives, gaining listed options on Nasdaq, announcing our intention to tokenize our equity via Superstate, and joining Webull’s Corporate Connect Service platform. Looking ahead, we are laser-focused on increasing Upexi’s visibility and raising capital in an accretive fashion for the benefit of shareholders."
Upexi said it is earning an 8% yield by staking its Solana. With SOL trading at $151.044 as of 10:57 a.m.（UTC+8） ET, Upexi’s holdings were worth about $111 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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