Pantera-Backed Helius Raises $500M to Build Solana Treasury, Shares Skyrocket 200%

New York — Helius is making a bold pivot into Web3 finance, announcing a $500 million private raise to launch a Solana-focused digital asset treasury. The news sent its shares soaring more than 200% in pre-market trading—ut the stock is now trading at $18.27.

—

A New Kind of Treasury Play

The new entity will hold Solana’s native token, SOL, as its reserve asset, targeting more than $1.25 billion in assets under management through stock warrants tied to the deal. Helius plans to generate income by staking SOL for yields of roughly 7% and deploying tokens into DeFi lending markets for additional returns.

Incoming executive chairman Joseph Chee — founder of Summer Capital and a former UBS banker — will steer the treasury strategy alongside Pantera Capital’s Cosmo Jiang and Dan Morehead.
“This is about creating shareholder value while accelerating Solana adoption,” said Jiang, pointing to the MicroStrategy-style flywheel effect pioneered by Michael Saylor in Bitcoin.
The raise was led by Pantera Capital and Summer Capital, with participation from Animoca Brands, FalconX, and HashKey Capital. The funding positions Helius as one of the most aggressively capitalized entrants in the digital asset treasury (DAT) sector — a new class of public vehicles stockpiling crypto as reserve assets.

Solana Treasury Wars

Helius now joins the ranks of Forward Industries (FORD), which launched just last week with $1.65 billion in backing from Galaxy Digital and others. FORD confirmed it has already purchased 6.8 million SOL (≈$1.58 billion), putting pressure on rivals like Helius to scale quickly.

The competition underscores Solana’s rising role as a treasury asset, with firms betting not just on long-term price appreciation, but also on its yield-bearing design.

Market Context

Despite the treasury buzz, Solana’s SOL has slipped from a recent high of $248 to $235, reflecting broader crypto volatility. Still, the appetite for Solana-based DATs suggests institutions see long-term opportunity in its high-throughput blockchain, especially as staking and DeFi yield strategies gain traction.

With $500 million in fresh firepower and Pantera at its side, Helius is positioning itself as a flagship Solana treasury — one that could reshape how public companies integrate digital assets into their balance sheets.