Forward Industries just widened its Solana lead
Forward Industries (NASDAQ: $FWDI) grew its Solana treasury to 7.55 million $SOL after buying over 500,000 tokens in Q3, widening its lead over all other publicly traded SOL treasury firms combined.
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Record SOL Holdings After a Big Q3 Buy
@FWDind shares jumped more than 17% on Wednesday after the Nasdaq-listed company disclosed it purchased over 500,000 $SOL during its fiscal third quarter, which ended June 30. Total holdings now stand at 7.55 million $SOL, worth roughly $576 million, acquired at an average price near $79 per token.
That haul puts $FWDI well ahead of its nearest rivals. Forward Industries holds the largest publicly listed Solana treasury, bigger than its next three competitors combined. The latest quarterly purchase only extended that gap.
Since launching its treasury strategy in September 2025, Forward has assembled what it describes as the largest Solana treasury in the world, staked the majority of its SOL to its own validator infrastructure, and launched fwdSOL as a liquid staking token. The company's stated long-term goal is to compound SOL per share materially faster than the SOL staking rate.
Russell Index Inclusion Opens a New Capital Channel
Forward Industries joined the Russell 2000 and Russell 3000 on June 29, 2026, and the company said index inclusion may improve liquidity and expand its shareholder base. Management is leaning on that new visibility to raise fresh capital and continue scaling its $SOL position.
Chief Investment Officer Ryan Navi said inclusion in both indexes marks an important milestone and reinforces growing institutional recognition of the company's strategy. He added that the listing is expected to expand Forward's shareholder base and improve trading liquidity.
$FWDI was trading near $4.93 at the time of the announcement. $SOL touched a one-month high above $77, recovering sharply from a June low near $60.
The company deploys its assets through a range of on-chain opportunities, including staking, lending, and participating in decentralized finance. Forward Industries maintains sufficient operating capital and carries no corporate debt.
Sources:
Forward Industries SEC Form 8-K Filing (FY2026)
GlobeNewswire: Forward Industries Set to Join the Russell 2000 and 3000 Indexes
Decrypt: Forward Industries Shares Spike as Leading Solana Treasury Adds $38 Million in SOL
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.