DeFi Development Corp. has added about $3 million worth of Solana to its corporate treasury, but the latest purchase was substantially smaller than its acquisitions in the previous two weeks. The Nasdaq-listed company bought roughly 26,203 SOL between Sept. 28 and Oct. 2, taking its holdings to 2,564,212 SOL and SOL equivalents, according to an Oct. 5 filing. The figures were reported by Decrypt.
Treasury expands as weekly purchases decline
The company, which trades under the ticker DFDV, said its holdings were worth $302 million. The latest accumulation represents an increase of about 1% from the 2,538,010 SOL and SOL equivalents reported on Sept. 25.
However, DFDV’s buying rate has slowed noticeably. It added 47,706 SOL during the previous week and 101,381 SOL in the week ending Sept. 18. The latest purchase was therefore about half the size of the prior week’s addition and roughly one-quarter of the amount acquired two weeks earlier.
Chief executive Joseph Onorati presented the broader expansion in positive terms, saying the company had continued buying SOL and had grown its treasury by 11% since Aug. 12. The company’s stated treasury value of $302 million includes SOL and SOL equivalents, although the filing does not define precisely what assets are covered by the latter term.
DFDV has also announced preliminary third-quarter figures as of Sept. 30. Those figures are not final results, but the company said SOL per share and its total SOL holdings had each increased by double-digit percentages since Aug. 12. It also reported that net asset value per share had risen by more than 100% over the same period.
A corporate strategy built around Solana
DeFi Development Corp. is a digital asset treasury company. Such companies make holding a particular cryptocurrency on their balance sheet a central part of their business strategy. DFDV applies that model to Solana, while also operating validators—computers that help process and secure activity on the Solana network and can earn rewards.
The approach gives investors a way to obtain exposure to SOL through shares traded on a conventional stock exchange and brokerage account. DFDV has described its structure as offering amplified exposure to Solana, meaning changes in the cryptocurrency’s price are intended to have a stronger effect on the company’s stock, in either direction.
The company was previously known as Janover, a commercial real estate platform, before changing direction in 2025. In May of that year, it held nearly 600,000 SOL. Its current holdings are more than four times that amount.
The strategy resembles the bitcoin-focused treasury approach popularized by Strategy, formerly known as MicroStrategy, but DFDV has chosen Solana as its primary digital asset. The size of its holdings has made it one of the largest corporate Solana holders globally, with the company described as having the second-biggest Solana position in the world.
Funding, preferred shares and risks to the model
DFDV raises capital through several channels to support its treasury strategy. It sells CHAD, a preferred stock that ranks ahead of common shares for dividend payments. CHAD has a stated amount of $10 per share and currently pays an annual rate of 13%, or $1.30 per share, although the company’s board can adjust the rate under the terms described in its prospectus.
The company paid its first 13% CHAD dividend on Oct. 1. It has also declared dividends of $0.00516 per share for each business day through Oct. 30.
On Sept. 1, DFDV said it was offering 2.2 million CHAD shares at $9 each, potentially raising $19.8 million. The initial public offering ultimately priced two days later at 1,375,000 shares at $8 apiece, generating about $11 million. The company has also established a $300 million at-the-market program, allowing it to issue new shares over time at prevailing market prices.
The digital asset treasury model depends in part on a company’s ability to raise money by selling shares at a premium to the value of the cryptocurrency represented by each share. If the stock trades below the value of the underlying crypto assets, that expansion mechanism can become harder to use. The source material notes that many treasury companies, including Strategy, saw their shares fall below the value of their crypto holdings by December 2025.
Current Solana market picture
Moneyiar market data recorded at 10:33 a.m. on Oct. 7, 2026, showed Solana trading at $117.7616882767. SOL was down 2.02% over 24 hours and 1.67% over seven days, according to Moneyiar data.
Those market movements provide the latest trading context for DFDV’s expanded treasury, but they do not change the company’s reported holdings or the preliminary nature of its third-quarter figures. The filing confirms the amount added through Oct. 2, while the company’s treasury value and future dividend and fundraising plans remain subject to the terms it has disclosed.
