Chiara Bianchi
Crypto trading firm GSR has partnered with Upexi, a U.S.-based consumer products company, to establish a robust Solana-based crypto treasury, marking a significant leap in traditional firms integrating digital assets into their financial strategy.
According to a statement shared with PRIME, GSR led a $100 million private investment in public equity (PIPE) into Upexi. The funding is set to support Upexiโs efforts to accumulate, hold, and stake SOL tokens, aligning with the companyโs long-term growth ambitions in the digital asset space.
Why Solana? GSR Makes the Case for Speed and Scalability
Brian Rudick, Head of Research at GSR, emphasized Solanaโs technological edge, noting that its speed, scalability, and thriving developer ecosystem make it a prime choice for institutional adoption.
โThis initiative reflects a rising demand for secure and efficient exposure to premium crypto assets,โ said Rudick. โWeโre proud to support Upexiโs entry into the digital asset arena.โ
Market Responds: Upexi Shares Soar Over 600%
Following the announcement, Upexiโs stock price surged more than 600%, reaching approximately $16.50 on the Nasdaq exchange by 10:32 a.m. ET. The Tampa-based company designs, manufactures, and distributes consumer goods โ but now, itโs signaling a clear pivot into crypto infrastructure.
Solanaโs Growing Role in Corporate Treasuries
Upexi isnโt alone in turning to Solana for treasury diversification. Several firms have taken similar steps in recent months:
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Janover, a commercial real estate finance company, revealed its SOL treasury strategy in April. Initially acquiring 83,000 SOL, its holdings grew to over 163,651 SOL, valued at around $21.2 million.
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The move followed a majority acquisition by former Kraken executives, with Janover set to rebrand as DeFi Development Corporation. The firm also struck a staking partnership with Kraken.
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Sol Strategies, a Canadian holding company, also expanded its Solana exposure in early 2025 โ amassing 189,968 SOL (worth ~$40 million as of Jan. 31).
Solanaโs Market Position Solidifies
As of writing, Solana ranks as the sixth-largest cryptocurrency by market cap, boasting a total valuation of $71.5 billion. The price per SOL currently sits at $138.29, according to PRIMEโs Solana price page.
Lily Liu, President of the Solana Foundation, welcomed the growing institutional use cases:
โThis collaboration between GSR and Upexi signals a powerful trend โ the blending of traditional finance with decentralized innovation.โ
