As of September 29, 2025, the 18 entities that have established the Solana Treasury collectively hold a balance of 20.921 million SOL, accounting for 3.64% of the current total SOL supply. Approximately 12.468 million SOL is staked, with an average staking yield of 7.7%, representing 2.168% of the total supply.

This article outlines the main businesses of the 18 companies holding SOL and their latest developments in the cryptocurrency field.

1. Forward Industries (FORD)

Forward Industries, Inc. (NASDAQ symbol: FORD) was founded in 1961 and is headquartered in Holbrook, New York. Forward Industries and its subsidiaries are primarily engaged in the design, manufacture, procurement, marketing, and distribution of carrying and protective solutions. The company operates through its OEM distribution and design divisions. The OEM distribution division procures and distributes carrying cases for medical monitoring and diagnostic kits and other accessories, as well as other portable electronic and non-electronic products such as sports and leisure products, barcode scanners, GPS devices, tablets, and firearms. The design division provides hardware and software product design and engineering services. Forward Industries sells its products to original equipment manufacturers in the United States, Poland, Germany, China, and internationally.

On September 22, Forward Industries announced a partnership with the financial technology company Superstate to tokenize Forward Industries (FORD) stock on Solana through Superstate's Opening Bell. If successful, shareholders will be able to link their common shares between brokerage accounts and Solana, potentially enabling 24/7 trading, nearly instant settlement, and new global liquidity pools.

On September 17, Forward Industries announced that it had filed a $4 billion ATM plan with the U.S. SEC to support its Solana financial strategy. The plan will be used for general corporate purposes, including continuing to execute its Solana strategy, purchasing revenue-generating assets, and other capital expenditures.

On September 8, Forward Industries announced a $1.65 billion private placement for the Solana Treasury Strategy.

Forward Industries' Board Chairman, Kyle Samani, stated that the company's series of moves has strengthened their belief in Solana's central position in the capital markets, allowing shareholders to directly participate in the future tokenized economy.

Since the announcement of the Solana Treasury Strategy, the company's stock price had surged to a high of nearly $40 at one point, with a closing price of $29.23 at the time of writing.