The newest shareholder letter from DeFi Growth Corp., a Nasdaq-listed Solana treasury firm, reveals that its absolutely transformed SOL per share has grown 108% over the previous yr, rising from 0.0322 on Might 13, 2025, to 0.0670 on Might 13, 2026.
The expansion is notable as a result of it got here throughout a troublesome interval for Solana’s value motion, significantly within the first quarter of 2026, the place the SOL value has been struggling with bearish momentum.
Associated Studying
Solana Treasury Development Exhibits A New Supply Of Demand
In response to a Might shareholder letter from DeFi Growth Corp., a Solana treasury firm, the corporate has greater than doubled its absolutely transformed SOL per share into 108%.
The 108% development highlighted by DeFi Growth Corp. is predicated on SOL per share, a metric the corporate makes use of to measure how a lot Solana backs every absolutely transformed share. The corporate reported 2,294,576 SOL and SOL equivalents as of Might 13, 2026, with roughly 34.2 million absolutely transformed shares excellent. Apparently, its absolutely transformed SPS rose 1% from March 30 to Might 13 and 108% from the identical date final yr to 0.0670 as of Might 13, 2026.
DeFi Growth Corp. is just not merely shopping for SOL and ready for price appreciation. The corporate mentioned greater than 25% of its treasury is deployed onchain, whereas its validator operations generate about 7.5% yield in comparison with roughly 3.9% from staking SOL by way of Coinbase. The shareholder letter additionally estimated that this unfold represents about $7.6 million in annualized incremental yield on its present treasury.
What This 108% Development Means For Solana Worth
This 108% development in DeFi Growth Corp.’s absolutely transformed SOL per share reveals that Solana is starting to draw the identical type of company treasury conviction much like Bitcoin and Ethereum. Bitcoin has had companies such as Strategy, Metaplanet, and MARA Holdings constructing stability sheet methods round BTC. Ethereum has additionally developed its own treasury category, with corporations like BitMine Immersion Applied sciences.
DeFi Growth Corp.’s technique is constructed round accumulating SOL, staking it, deploying a part of it throughout Solana DeFi, and utilizing capital markets solely when it might improve SOL publicity per share. This implies SOL is attracting a class of demand that’s extra structured than regular spot-market shopping for.
Apparently, DeFi Growth Corp. is one of a few different corporations that maintain SOL as their main company reserve asset. Different corporations like Ahead Industries, Inc. and Upexi Inc. even have thousands and thousands of SOL tokens on their stability sheets.
Associated Studying
This has actual value implications for Solana, as this creates a distinct type of demand base. Treasury corporations like these talked about above are long-term holders. Retail demand can disappear shortly, however company treasury demand is extra structured and often tied to long-term conviction.
Featured picture from Bunq, chart from TradingView
