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- Increased demand for Solana treasury bonds and ETF inflows as Helios plans to issue $1.25 billion in bonds:
- Helius Medical Technologies announced its plans to raise $1.25 billion to create a SOL treasury.
- Forward Industries purchased 6.8 million SOL, valued at approximately $1.5 billion.
- Solana ETFs recorded inflows of $198 million last week, after registering their largest daily inflow ever of $145 million.
Solana experienced a notable increase in corporate acquisition activity on Monday, following the launch of $1.25 billion worth of shares from Helios Medical Technologies and the purchase of $6.8 million worth of shares by Forward Industries. This acquisition coincides with rising institutional demand over the past week, as Solana's investment products recorded a net weekly inflow of $198 million.
Demand for Solana rises amid strong ETF inflows and robust treasury bond purchases.
Helios Medical Technologies is looking to raise $1.25 billion to launch a Solana fund, according to a statement released on Monday.
The deal, led by investment firms Pantera Capital and Samer Capital, includes over $500 million in potential returns from a private investment in public equity (PIPE) and $750 million from a sales offering.
The subscriptions are expected to close on Thursday, subject to closing conditions. After the subscription closes, Joseph Chi, founder and chairman of Summer Capital, will assume the presidency of the company and will also serve as the CEO.
Tse said: "Our thesis is that all capital market transactions, from tokenization to payments, will move to blockchain rails, and Helius aims to connect public markets to the Solana network, where we expect most of this activity to take place."
Helius Medical Technologies shares rose by about 160% on Monday following the announcement.
Meanwhile, Forward Industries (FORD) announced on Monday that it has purchased 6.8 million SOL units, worth $1.5 billion. The company made the purchase using proceeds from a recently closed PIPE financing of $1.65 billion, led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
The rise in SOL treasury bonds coincides with an increase in institutional demand for the Layer-1 token.
Solana's exchange-traded products (ETPs) saw record flows in a single day of $145 million last week, bringing total weekly flows to $198 million, according to data from CoinShares.
This increase confirms the growing demand from traditional investors and has boosted optimism regarding the potential approval of Solana exchange-traded funds in the United States. Along with increased accumulation from companies, the price of SOL may rise in the coming months, according to Bitwise.
In a note to investors last week, Bitwise's investment director, Matt Hogan, predicted that Solana could see a surge by the end of the year driven by institutional demand.
The SOL index dropped by 6% in the last 24 hours, despite recent developments.