Solana Treasury Helius Targets 5% Of SOL, Eyes Hong Kong Listing

Helius is looking to expand its Solana treasury to at least 5% of the cryptocurrency’s supply and considering a second listing in Hong Kong. Solana Digital Asset Treasury Firm Helius Aiming For At Least 5% Of SOL As reported by Wu Blockchain , NASDAQ-listed Helius Medical Technologies is planning on acquiring at least 5% of the total SOL supply. The information comes from an interview between the Hong Kong Economic Times (HKET) and Joseph Chee, Executive Chairman of Helius and Chairman of Summer Capital. Helius Medical Technologies is a neurotech company that last month pivoted to a digital asset treasury (DAT) strategy centered around Solana, the cryptocurrency currently ranked sixth by market cap. The firm closed an initial private placement offering, raising over $500 million on September 18th, with the likes of Pantera Capital and Summer Capital among the backers. Helius has since been deploying this capital to purchase SOL for its treasury. According to a press release published Monday, the DAT company now holds more than 2.2 million tokens of the cryptocurrency. To reinforce its shift in business, Helius rebranded to “Solana Company” after receiving board approval on September 29th. The firm stated in the announcement that its mission is to “maximize SOL per share on one of the most commercially viable blockchains for consumer applications while delivering consistent on-chain yield for investors.” At the current Solana price, the company’s treasury is worth around $488.8 million. On top of this, it still holds about $15 million in cash, meaning that the firm already possesses more capital than it initially raised in September. If the firm’s Chairman is to go by, though, the DAT company is nowhere near done with its accumulation. With a target of 5% of the SOL supply in circulation, the goal represents a total investment of over $6 billion at the latest exchange rate. Chee also told HKET that once market cap and regulatory requirements are met, Solana Company is planning a second listing in Hong Kong, which could potentially happen within the next six months. During the latest acquisition announcement, Chee said: HSDT Solana Company’s investment narrative is resonating with institutional investors. We are encouraged by the strong interest coming out of Asia after the major digital assets conferences last week, and we look forward to continuing to be a leading advocate for the Solana ecosystem to a whole new set of investors. Helius’ pivot is just part of a broader SOL treasury wave that the sector has witnessed over the past month. Forward Industries, a design and manufacturing company, completed a $1.58 billion purchase on September 15th as it shifted to a Solana DAT strategy backed by Galaxy Digital, Jump Crypto, and Multicoin Capital. At the start of this month, another player in VisionSys AI, a firm specializing in brain-machine interaction and advanced AI systems, announced a $2 billion SOL DAT program in partnership with Marinade Finance. SOL Price At the time of writing, Solana is trading around $222, down more than 1% over the last week.