Shares of Solana Company (NASDAQ: HSDT) climbed roughly 17% after the firm introduced a new lending structure that allows institutions to borrow against natively staked SOL while keeping assets in custody. The move is designed to unlock liquidity from digital asset treasuries without forcing holders to unstake or liquidate positions during a weaker market cycle.
The Nasdaq-listed company partnered with Anchorage Digital for custody and Kamino for onchain lending infrastructure, enabling loans backed by SOL held in segregated accounts. Under the structure, collateral remains staked, allowing institutions to continue earning staking rewards while accessing borrowing liquidity, a model increasingly aligned with institutional treasury management practices in digital assets.
The stock rebounded to around $2.30 following the announcement, recovering from recent lows, though it remains significantly below levels seen after the firm’s strategic pivot to a Solana treasury model in 2025. The company holds approximately 2.3 million SOL on its balance sheet, positioning it among the largest publicly traded holders of the asset.
Treasury Strategy Shifts Toward Yield and Liquidity
The launch comes as crypto treasury firms face sustained pressure from lower token prices, which have materially impacted balance sheet valuations and investor sentiment. Solana‘s decline from peak levels has pushed treasury-focused companies to prioritize yield generation and capital efficiency rather than relying on price appreciation alone.
Staking income and onchain financing tools are emerging as core components of this strategy, particularly for firms managing large token reserves. By enabling borrowing against staked assets, companies can access operational capital while maintaining exposure to network rewards and long-term holdings.
Institutional Adoption and Competitive Landscape
The development reflects a broader institutional shift toward integrated crypto financial infrastructure, combining custody, staking, and lending into a single framework. This mirrors trends seen across digital asset markets, where regulated custodians and DeFi protocols are increasingly collaborating to support institutional-grade liquidity solutions.
Peers in the Solana treasury segment are also expanding staking and yield-focused products, including liquid staking tokens and validator-driven revenue models. As macro conditions and digital asset volatility continue to shape treasury performance, such hybrid financing structures may become a standard tool for publicly listed crypto treasury firms seeking balance sheet resilience and diversified revenue streams.
