The most recent shareholder letter from DeFi Growth Corp., a Nasdaq-listed Solana treasury firm, reveals that its totally transformed SOL per share has grown 108% over the previous 12 months, 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 worth motion, significantly within the first quarter of 2026, the place the SOL worth has been combating bearish momentum.
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Solana Treasury Development Exhibits A New Supply Of Demand
Based on a Might shareholder letter from DeFi Growth Corp., a Solana treasury firm, the corporate has greater than doubled its totally 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 totally transformed share. The corporate reported 2,294,576 SOL and SOL equivalents as of Might 13, 2026, with roughly 34.2 million totally transformed shares excellent. Apparently, its totally transformed SPS rose 1% from March 30 to Might 13 and 108% from the identical date final 12 months to 0.0670 as of Might 13, 2026.
DeFi Growth Corp. is just not merely shopping for SOL and ready for worth 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 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 totally transformed SOL per share reveals that Solana is starting to draw the identical form of company treasury conviction just like Bitcoin and Ethereum. Bitcoin has had firms equivalent to Technique, Metaplanet, and MARA Holdings constructing steadiness sheet methods round BTC. Ethereum has additionally developed its personal treasury class, with firms 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 will probably enhance 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 some different firms that maintain SOL as their major company reserve asset. Different firms like Ahead Industries, Inc. and Upexi Inc. even have tens of millions of SOL tokens on their steadiness sheets.
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This has actual worth implications for Solana, as this creates a unique form of demand base. Treasury firms like these talked about above are long-term holders. Retail demand can disappear rapidly, however company treasury demand is extra structured and often tied to long-term conviction.
Featured picture from Bunq, chart from TradingView
