Why Solana Treasury Companies May Outshine BTC and ETH in 2025

Analysts have forecasted that Solana (SOL) treasury companies might outshine Bitcoin (BTC) and Ether (ETH) in 2025. Galaxy’s Michael Marcantonio outlined various reasons why SOL is the superior choice for such companies, including its higher staging yield and ￰0￱ Backs SOL as High-Yield Reserve Asset Marcantonio shared his views in a September 15 X post, where he argued that SOL offers treasury firms unique advantages compared to its larger ￰1￱ explained that SOL has a gross staking yield of about 7–8%, compared with just 3–4% for ￰2￱ these rewards allows a treasury’s net asset value (NAV) to grow faster, creating a steady income ￰3￱ gave the example of a $9 billion ETH treasury that could produce around $300 million per year, noting that SOL’s higher rate gives it an even stronger ￰4￱ the other hand, BTC does not provide any yield, so companies holding it as a reserve asset cannot generate the same kind of ￰5￱ expert also talked about SOL’s strong transaction throughput, noting that despite its market cap being five to six times smaller than ETH’s, it handles more transactions and reaches more ￰6￱ explained that this level of network activity gives firms that accumulate the former greater ￰7￱ is because their NAV per share can grow from treasury mechanics, and the possibility of SOL being valued higher when compared with ￰8￱ 38-year-old also looked at volatility and ￰9￱ noted that SOL has historically been more volatile than its counterparts, with levels around 80% compared to 40% for BTC and 65% for ￰10￱ difference makes financing tools such as convertible bonds, warrants, and structured deals cheaper for companies that have SOL in their treasuries, and helps them accumulate tokens at a faster ￰11￱ added that this kind of dilution increases the number of tokens per share more quickly, which boosts net asset ￰12￱ Gains Ground in Corporate Stockpiles Marcantonio further explained that ETH is already widely used by institutions, while SOL is still in its growth ￰13￱ means reserve companies linked to the latter can benefit from its financial characteristics and expanding ￰14￱ and ETH remain the dominant assets in corporate treasuries, with over 130 publicly traded firms holding the former and more than 40 accumulating the latter as strategic ￰15￱ companies like Strategy and Metaplanet continue to build their positions in BTC, while others, such as BitMine Immersion Technologies and SharpLink Gaming, accumulate ETH.

However, a new wave of treasury firms is also turning to ￰16￱ the lead is Upexi Inc., holding over 2 million of the cryptocurrency, followed by DeFi Development Corp., which reported nearly 1 million SOL in its treasury, and Sol Strategies Inc., which has 260,000 SOL on its books.