Solana treasury firm Upexi's SOL holdings climb above 735,000 as it eyes tokenized equity

Upexi, a company holding Solana as part of its corporate treasury, said Tuesday that it held 735,692 SOL at the end of June, an 8.2% increase from May.

The company’s stock has traded below $4 a share since plummeting about 60% when investors filed to sell millions of shares. Upexi briefly surged above $15 last month before retreating.

Upexi is part of a small group of firms trying to mirror Strategy's success as a Bitcoin treasury firm, but by focusing on altcoins like Solana. Strategy's stock price has soared along with the price of Bitcoin. Other companies pursuing stockpile-Solana strategies include DeFi Dev Corp and Canada's SOL Strategies.

"June was a particularly active and successful month,” Upexi CEO Allan Marshall said in a statement. “We delivered on key initiatives, gaining listed options on Nasdaq, announcing our intention to tokenize our equity via Superstate, and joining Webull’s Corporate Connect Service platform. Looking ahead, we are laser-focused on increasing Upexi’s visibility and raising capital in an accretive fashion for the benefit of shareholders."

Upexi said it is earning an 8% yield by staking its Solana. With SOL trading at $151.044 as of 10:57 a.m. ET, Upexi’s holdings were worth about $111 million, according to The Block Price Page.