TLDR:
- Upexi issues a $36 million convertible note to acquire more SOL and strengthen its balance sheet.
- The company’s projected holdings will exceed 2.4 million SOL tokens following the deal’s closing.
- The move coincides with a streak of net inflows into Solana ETFs, accumulating over $827 million.
This Tuesday, Upexi, Inc. (NASDAQ: UPXI) unveiled its strategy to strengthen its position in the digital asset ecosystem. The firm entered into a securities purchase agreement with Hivemind Capital Partners for the issuance of a convertible note valued at approximately $36 million.
Under this agreement, the company will increase its Solana treasury holdings, using locked SOL tokens as consideration to collateralize the operation.
Institutional Consolidation and the Solana Ecosystem Boom
The execution of this transaction is a milestone for Upexi in its goal of becoming a leading vehicle for institutional exposure to digital assets.
With a 24-month maturity and a 1.0% interest rate, the convertible note is designed to be accretive for shareholders. According to Allan Marshall, the firm’s CEO, the objective is to surpass the 34% growth in adjusted SOL per share recorded in 2025.
Upon completion of this deal, the entity’s Solana treasury holdings will reach more than 2.4 million units, consolidating its competitive advantage.
The news comes amidst a period of notable strength for the network. While other assets show mixed flows, Solana has maintained a positive trend of institutional inflows through its spot ETFs.
On Monday, January 12 alone, these financial products recorded inflows of $10.67 million, pushing total net assets above $1.14 billion.
The market has reacted favorably to this corporate accumulation and the steady flow of capital into exchange-traded funds.
Currently, the asset shows great resilience, trading above $143. The strategy of expanding its Solana treasury holdings places Upexi in a privileged position to capitalize on mass adoption and the institutional interest that continues to flow into the Solana ecosystem at the start of 2026.
