Solana rises 7% as Forward Industries launches $1.65B fund
Solana started the week with a nearly 7% rise to $216, driven by the launch of Forward Industries’ treasury strategy focused on SOL, valued at $1.65 billion.
On September 8, Forward Industries, Inc. — a global company engaged in design, sourcing, and distribution of medical and technology equipment — announced the creation of a $1.65 billion Solana fund. The company’s largest partners in this initiative include Galaxy Digital, Jump Crypto, and Multicoin Capital.
“Solana has become one of the most innovative and widely adopted blockchain ecosystems in the world. Our strategy to establish an active Solana treasury program underscores our confidence in SOL’s long-term potential and our commitment to enhancing shareholder value through direct participation in its growth,” said Forward Industries CEO Michael Pruitt.
Institutional participation strengthens Solana’s position
According to Pruitt, the initiative is designed to align Forward Industries’ activities with Solana’s rapid expansion, leveraging institutional support to accelerate growth. The involvement of leading crypto companies further boosts confidence and strategic positioning in digital asset management.
Following the announcement of the SOL treasury, Forward Industries’ stock price doubled to $32 before correcting to $26, posting a 60% gain.
4-hour chart of Forward Industries stock. Source: Trading View
Meanwhile, Solana’s price rose nearly 7% in the past 24 hours to $216, according to CoinMarketCap, while trading volume more than doubled to $10.16 billion.
Participants in the digital fund believe Solana’s ecosystem is poised for significant expansion as development continues. Institutional commitments are strengthening Solana’s financial position, potentially driving broader adoption and liquidity.
As we wrote, Solana steadies near $207 as Nasdaq treasury listing and $35M inflows shape outlook
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