Cantor Fitzgerald, a prominent Wall Street firm, has initiated coverage on Solana-focused treasury companies including Sol Strategies, DeFi Development Corp (NASDAQ: DFDV), and Upexi (NASDAQ: UPXI), assigning outperform ratings and highlighting their potential for premium valuations compared to Bitcoin peers due to native revenue opportunities and superior technology. Cantor Fitzgerald analysts emphasize Solana's technological advantages over Ethereum and project up to 75% upside for Solana treasury stocks, with DeFi Development Corp identified as a top pick. Concurrently, Nasdaq-listed Lion Group Holding Ltd. (LGHL) secured a $600 million facility from ATW Partners to launch the world's largest Hyperliquid (HYPE) treasury, which will hold HYPE, Solana (SOL), and Sui (SUI) tokens, with BitGo providing custody and staking services. Lion Group has completed the initial tranche of HYPE token purchases. DeFi Development Corp has raised $112.5 million through a private placement to acquire more SOL tokens and repurchase stock, increasing its Solana holdings to approximately 690,420 SOL valued at $102.7 million as of early July 2025. The company recently acquired an additional 153,225 SOL, making it the largest public holder of SOL. Upexi announced a $200 million fundraising round, including a $150 million convertible note led by Big Brain Holdings and a $50 million equity offering, aiming to expand its Solana treasury to around 1.65 million SOL. Amber International, another Nasdaq-listed firm, raised $25.5 million in a private placement to accelerate its $100 million crypto ecosystem reserve strategy, which includes BTC, ETH, SOL, BNB, XRP, and SUI. Meanwhile, ReserveOne, a new cryptocurrency holding company backed by industry veterans and a former U.S. commerce secretary, plans to go public on Nasdaq via a SPAC merger with M3-Brigade Acquisition V Corp, targeting a raise of over $1 billion. ReserveOne will manage a portfolio including Bitcoin, Ethereum, Solana, XRP, and Cardano. These developments indicate growing institutional accumulation and strategic expansion of Solana treasury holdings among publicly traded companies and crypto investment firms.