Nasdaq-listed Forward Industries has strengthened its position as the largest publicly traded Solana treasury company after buying more than 500,000 SOL during the third quarter of its fiscal 2026. The company spent about $38 million on the purchase at an average price of around $79 per token, bringing its total holdings to 7.55 million SOL as of June 30. Investors welcomed the news, with Forward Industries’ shares rising more than 17% in early trading. The company said the latest purchase supports its long-term plan to increase Solana holdings per share while creating value for shareholders through careful money management.
The new tokens have increased the value of Forward’s Solana treasury to about $576 million to $579 million, depending on market prices. The company says its holdings now are bigger than the combined Solana reserves of the next three largest publicly traded Solana treasury companies, giving it a strong lead in this growing area.
Forward tracks its performance using a “SOL-per-share” measure, which shows how much Solana supports each share. During the quarter, this number rose from 0.0669 SOL per share at the end of March to 0.0729 SOL by the end of June. The company said this means each share now represents ownership of more Solana than before.
To pay for the latest purchase, Forward sold 93,642 common shares through its at-the-market (ATM) program. At the same time, it bought back shares whenever their price was below the company’s net asset value. Management believes this flexible money strategy lets it grow its digital asset reserves while increasing value for shareholders.
Chief Investment Officer Ryan Navi said the company’s goal stays simple despite changing market conditions. He said Forward will keep increasing the amount of Solana behind each share while creating long-term value for investors. The company also plans to issue new shares when market prices are higher than the value of its assets and buy them back when they trade at a lower price.
Forward marked another milestone during the quarter by being included in the Russell 2000 and Russell 3000 indexes. The company believes this will raise its profile among big investors and possibly offer more chances to raise money for future Solana purchases.
The announcement came as Solana itself showed a strong recovery. The cryptocurrency rose about 5% over the past 24 hours after bouncing back from recent lows, while trading activity also went up, showing renewed investor interest.
Corporate crypto treasury strategies have become more popular over the past year. While Bitcoin is still the preferred reserve asset for many listed companies, Forward Industries is part of a small but growing group of firms building large Solana treasuries. If big investors keep getting more interested in Solana, the company’s strategy could make its position in the digital asset market even stronger.
Forward Industries ( $FWDI ) Expands Solana Treasury by Over 500k SOL in Fiscal Q3 2026; Now Holds Over 7.5M SOL.https://t.co/ReYl5ipylo
— Forward Ind. | NASDAQ-$FWDI (@FWDind) July 1, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment