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Prices as of 2026-10-05 23:02 UTC. Source: CoinGecko.
An 8-K shows 26,203 SOL added Sept. 28–Oct. 2 as buying slowed from prior weeks, while the firm touts 11% treasury growth since Aug. 12.
DeFi Development Corp Solana holdings increased as the company added about 26,203 SOL between Sept. 28 and Oct. 2, according to an 8-K filed Oct. 5. Set against the 47,706 tokens added the prior week and 101,381 in the week ending Sept. 18, 26,203 is roughly 55% and 26% respectively.
The filing shows total holdings of 2,564,212 SOL and “SOL equivalents,” which the filing does not define. The company values that at $302 million. The tally is up 1% from 2,538,010 SOL on Sept. 25, the report says.
CEO Joseph Onorati said in a press release, “The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12.” The latest weekly additions, however, came in below the prior two weeks on the company’s own figures.
The report describes DFDV as a digital asset treasury company that concentrates its balance sheet in a single token, runs validators to earn rewards, and aims to give shareholders magnified exposure to SOL through a stock listing. In that design, moves in SOL are intended to hit the equity harder in both directions, per the company’s August materials cited in the report.
To fund purchases, the company sells CHAD, a preferred stock that its prospectus says helps finance SOL buys. According to the release, CHAD has a stated amount of $10 and currently pays 13% a year, or $1.30 per share, with the board able to adjust the rate. The company said it paid the first 13% dividend on Oct. 1 and has declared CHAD dividends of $0.00516 per share for each business day through Oct. 30.
The report also notes a $300 million at-the-market program, which allows the firm to sell new shares over time at market prices. Set against the company’s $302 million stated treasury value, that facility is about the same size as the current pile.
On Sept. 1, the company offered 2.2 million CHAD shares at $9, a deal that could have raised $19.8 million, the report says. The IPO priced two days later at 1,375,000 shares at $8 each, for about $11 million. Against the $302 million treasury valuation the company cites, $11 million is about 3.6%.
Preliminary third-quarter estimates as of Sept. 30, not final results, said SOL per share and total SOL grew by double digits since Aug. 12, and that net asset value per share grew more than 100%, according to the report. The company’s disclosures quantify buys and state a valuation, but they do not break out how much treasury growth reflects additional SOL versus changes in valuation. Declared CHAD dividends run through Oct. 30.
Source: Decrypt.
This article was written with AI assistance and reviewed by an editor.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
The slowing pace of SOL purchases suggests the company may face challenges sustaining its recent rapid NAV growth unless market conditions or buying strategies change. Because the filings don’t clarify how much treasury growth comes from new SOL versus valuation shifts, it’s difficult to assess the durability of the gains. Investors might want to monitor whether future acquisitions pick up again or if reliance on price appreciation alone will drive equity performance.
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