• Helius Medical buys over 760,000 Solana tokens marking a major shift in its treasury strategy.
• The company plans to scale its Solana position and explore DeFi and staking in the next 24 months.
• Helius holds $167 million in SOL and keeps $335 million cash for future crypto purchases.

Helius Medical Technologies has acquired 760,190 Solana (SOL) tokens, valued at approximately $167 million. The move places the company among the largest public holders of Solana. This acquisition marks the beginning of its digital asset treasury strategy. Helius paid an average of $231 per token for this purchase. The strategy follows a $500 million capital raise completed earlier this month.

Helius Medical Technologies (NASDAQ: HSDT) announced the purchase of over 760,000 SOL at an average price of $231, totaling approximately $167 million. The acquisition is part of its $500 million digital asset treasury strategy led by Pantera Capital and Summer Capital. The…

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Pantera Capital, a key backer in the fundraising round, plays an advisory role in the strategy. Board observer Cosmo Jiang, from Pantera, is helping guide Helius through this transition. The firm still holds over $335 million in cash, suggesting further crypto purchases may follow. This marks a major shift from traditional treasury management approaches.

Helius Joins Growing List of Solana-Holding Firms

Data from CoinGecko shows at least nine public firms currently hold Solana tokens. Together, they manage around 13.4 million SOL, worth nearly $3 billion. Helius becomes part of this growing group of companies diversifying into crypto. The largest holder, Forward Industries, owns 6.8 million SOL.

Other notable holders include DeFi Development Corp., Upexi, and Sharps Technology. These firms collectively indicate increasing corporate interest in Solana’s network. Helius holds one of the largest single-public company positions in SOL.

Treasury Strategy Focuses on Staking and DeFi

Helius plans to gradually scale its Solana holdings over the next 12 to 24 months. The company also aims to explore staking and DeFi opportunities. Its approach is described as cautious, with a conservative risk framework guiding decisions. The retained cash reserve will support these activities over time.

The initial purchase demonstrates market timing. The cost basis is lower than recent market prices. This suggests the company aims to optimize returns while limiting exposure. The firm continues to evaluate new entry points for possible token accumulation.

Stock Movement Reflects Market Response

Shares of Helius rose 250% earlier this month following the $500 million funding announcement. That surge pointed to strong investor reaction to the new treasury direction. However, the stock dropped 18% after the Solana purchase was announced.

As of the latest session, Helius shares traded down around 14%, with a market capitalization of $800 million. Despite the short-term drop, the company continues to pursue its digital asset plan. Helius remains unaffiliated with the Solana infrastructure firm of the same name.