Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, announced a significant increase in its SOL holdings for the fiscal fourth quarter ended September 30, 2026. The company reported that its SOL and SOL equivalent holdings grew by 948,601 SOL, or 13%, reaching 8,501,298 SOL, which represents approximately 1.4% of Solana's circulating supply. This expansion underscores the company's commitment to its treasury strategy and could signal a broader trend of institutional adoption of digital assets.
The SOL added during the quarter had an average cost of $83 per SOL, indicating a strategic accumulation phase. Notably, SOL per fully diluted share increased 10.4% quarter over quarter, from 0.0730 to 0.0806, while the preliminary, unaudited net asset value surged to approximately $870.4 million as of September 30, up from approximately $481.3 million as of June 30. This growth in net asset value reflects both the increase in SOL holdings and the appreciation in the price of Solana, which benefits shareholders.
Forward Industries' mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL, engaging with developers, and investing in Solana-related projects to increase shareholder value. The company launched its digital asset treasury strategy in September 2025, supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.
To view the full press release, visit https://ibn.fm/Gcttb. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
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This announcement is significant because it demonstrates the growing interest of public companies in cryptocurrency treasuries, particularly for Solana, which is known for its high throughput and low transaction costs. Forward Industries' substantial holdings and increased net asset value could attract more institutional investors to Solana, potentially driving further adoption and price appreciation. Moreover, the support from Galaxy Digital and Jump Crypto lends credibility to the strategy, which may encourage other companies to consider similar approaches.
