DigitalX Limited (ASX:DCC) has strategically increased its Solana (SOL) holdings, allocating proceeds from the recently closed DigitalX Fund (DXF) to acquire 18,944 SOL, valued at approximately $4.36 million. This acquisition brings DigitalX’s total Solana holdings to 83,150 SOL. The company intends to stake these tokens through BitGo, its custody provider, projecting annualised returns between 7% and 9%, translating to roughly $350,000 in additional annual revenue based on current SOL prices.

Demetrios Christou, Interim CEO of DigitalX, emphasized that the move represents a strategic shift towards generating yield from treasury assets. Unlike passive Bitcoin holdings, Solana offers staking rewards while supporting a rapidly expanding blockchain ecosystem. DigitalX views Solana as a high-conviction asset and plans to further increase its exposure.

This initiative aligns with DigitalX’s broader strategy to bolster recurring revenues through staking, optimise treasury asset yields, and actively participate in promising blockchain ecosystems. Solana, recognized for its high transaction speeds and scalability, is increasingly utilized in decentralized applications and smart contracts. Staking involves committing Solana to the blockchain’s operation via a validator, without transferring ownership or exposing the tokens to undue risk.

DigitalX manages Australia’s first ASX-listed spot Bitcoin ETF (ASX:BTXX) and prioritizes institutional-grade custody and insurance through reputable partners. The company primarily serves domestic wholesale investors and family offices. DigitalX’s treasury strategy focuses on leveraging blockchain technologies to generate additional value for its investors.