The emergence of agency Solana Treasuries and Forward Industries’ $1.65 billion strategic initiative

Nasdaq-listed Forward Industries repositions itself as a digital asset fund management operator through a $1.65 billion private placement led by Galaxy Digital, Jump Crypto and Multicoin Capital, focusing entirely on Solana. The move almost tripled the existing Solana fund management, marking its widespread adoption by institutional investors. Solana has transaction processing speeds of more than 65,000 times per second, handling fees below one cent, trading volumes per day reaching 162 million transactions, and leads the decentralized exchange (DEX) with 81% market share and $11.4 billion of total locked value (TVL). Despite the 96% daily user churn rate on decentralized exchanges, Solana's market value grew by 83% between 2024 and 2025, surpassing Ethereum and Bitcoin.