HSDT is the NASDAQ ticker for Solana Company, a publicly listed digital asset treasury company (DAT or DATCO) that focuses on acquiring and holding Solana tokens (SOL). Solana is a high-performance blockchain designed for fast, low-cost decentralized applications and crypto transactions by using a unique proof-of-history system to scale efficiently. By purchasing HSDT stock, investors have a way to buy Solana without a wallet and get indirect exposure through a traditional brokerage account—the same way you'd buy shares of any other company.
That structure makes HSDT stock especially relevant for investors who want blockchain exposure inside retirement accounts and traditional portfolios.
The story of HSDT begins with Helius Medical Technologies, a neurotech company focused on medical devices for neurologic conditions. The company developed innovative technology platforms aimed at improving the lives of people dealing with neurologic diseases.
However, recognizing the growing institutional interest in cryptocurrency and blockchain technology, the company's leadership saw an opportunity to pivot toward the digital asset space while maintaining its existing medical device operations.
In September 2025, Helius partnered with Pantera Capital and Summer Capital to secure over $500 million in funding to launch a Solana treasury company.
This PIPE (Private Investment in Public Equity) transaction was a significant turning point and turned the company into one of the most prominent Solana treasury stocks in the public markets.
Shortly after securing funding, the company officially changed its name from Helius Medical Technologies to Solana Company and signed a letter of intent with the Solana Foundation. This agreement established HSDT's commitment to conducting all on-chain activity solely on Solana, participating in institutional partnerships, and collaborating on joint initiatives with the aim of showcasing Solana's capabilities to investors.
Crypto custody refers to the secure storage of digital assets—much like how a bank holds your cash. To ensure institutional-grade security for its growing SOL holdings, Solana Company partnered with industry-leading custodians including Coinbase, BitGo and Anchorage Digital. These firms specialize in protecting cryptocurrency holdings with enterprise-level security measures, insurance coverage, and regulatory compliance. We believe this custody framework strengthens HSDT's investment strategy.
The Solana blockchain has established itself as one of the fastest-growing networks in the crypto space, with Solana’s use cases spanning payments, DeFi, and tokenized assets. The network leads the industry in transaction revenue and processes ~2,900 transactions per second. Solana also has approximately 2.2 million daily active wallets and has processed over 122 billion transactions in the past year.
Solana now leads all Layer 1 blockchains in decentralized exchange (DEX) trading volume, with stablecoin transaction volume reaching record levels thanks to integrations with major payment providers like PayPal, Stripe, and Western Union.
Solana Company has been actively building its treasury position since launching its SOL-focused strategy. As of September 30, 2025, the company reported holding $124 million in cash and $350.2 million in digital assets at fair value, for a combined total of $474.2 million.
Perhaps one of the company’s most notable achievements has been its staking performance. In October 2025, the company reported a gross staking yield of 7.03% APY, outperforming the stake-weighted average of the top 10 validators on the Solana network who achieved an average of 6.67% APY.
The company holds over 2.3 million SOL tokens, with holdings primarily staked via institutional validators like Helius (stakes over 13 million SOL for all its clients) and Twinstake (~3.4 million SOL staked for all clients). Rewards are automatically restaked with the aim being to increase the total number of SOL held.
In November 2025, the company's Board of Directors approved a stock repurchase program to acquire up to $100 million of outstanding common stock. This open-ended program allows the company to buy back shares in the open market and was among the most significant HSDT stock news since the company's pivot to the digital asset space.
As Executive Chairman Joseph Chee explained, there may be times when acquiring the company's own shares represents the best expected return on capital toward their goal of maximizing SOL per share.
Solana Company is aiming to put itself at the forefront of innovation in the digital asset treasury space. The company announced plans to tokenize HSDT shares on Superstate's Opening Bell platform, which would enable 24/7 trading and real-time settlement of the equity on blockchain infrastructure. The aim being to bridge traditional capital markets with Web3 and provide better liquidity while preserving existing regulatory structures and investor protections.
Solana Company trades on the NASDAQ exchange under the ticker HSDT so you can purchase shares through virtually any brokerage account—whether that's a standard taxable account, an IRA or a 401(k) with a self-directed option. Recent policy changes expanding the range of assets permitted in pension and retirement vehicles have only reinforced this accessibility.
For some, this accessibility is one of the key advantages of HSDT compared to buying Solana directly. When you purchase SOL tokens, you need to set up an account on a cryptocurrency exchange, manage wallet addresses and private keys, and deal with the practical risks and responsibilities of securing a digital asset wallet. With HSDT, you simply buy shares like you would for any other publicly traded company.
Holding HSDT in tax-advantaged accounts like an IRA can provide benefits that aren't available when holding cryptocurrency directly, as crypto in personal wallets doesn't qualify for the same retirement account tax treatment. However, HSDT stock price movements may not perfectly mirror SOL token prices due to market dynamics, company operations, and other factors, any HSDT stock forecast will largely depend on Solana's performance.
With institutional-grade custody, competitive staking yields, and the accessibility of a NASDAQ-listed security, Solana Company offers investors a bridge between conventional finance and the digital asset ecosystem. As with any investment, do your own research and consider your personal financial situation before investing.
HSDT is the NASDAQ ticker symbol for Solana Company, a publicly listed digital asset treasury that focuses on enhancing SOL per share on what the company describes as one of the most commercially viable blockchains for decentralized finance and consumer applications. The company was formerly known as Helius Medical Technologies before pivoting to focus on acquiring and holding Solana (SOL) tokens in September 2025. The ticker symbol remained HSDT after the corporate name change.
Solana Company operates as a digital asset treasury (DAT), which is a relatively new category of publicly traded company focused on holding cryptocurrency assets. We believe this positions HSDT at the intersection of traditional finance and digital assets. The company also maintains its neurotech and medical device operations—including its Portable Neuromodulation Stimulator (PoNS) device for neurologic conditions—though its primary strategic focus is now on its SOL treasury and maximizing SOL per share for investors.
Yes, HSDT is specifically designed to provide public market investors with exposure to Solana's growth. The company's stated objective is to maximize SOL per share through strategic capital markets activity and on-chain opportunities like staking. By holding HSDT shares, investors gain indirect exposure to SOL price movements and staking yields without needing to hold the cryptocurrency directly or navigate cryptocurrency exchanges.
There are several key differences between holding HSDT stock and holding SOL tokens directly. With HSDT, you can invest through traditional brokerage accounts and retirement vehicles, eliminating the need to manage crypto wallets, private keys, or worry about cybersecurity risks associated with self-custody. The company also handles staking on your behalf through institutional-grade validators, generating yield that compounds into the treasury.
This blog is for informational purposes only and does not contain all information pertinent to an investment decision. Nothing in this blog constitutes an investment recommendation or an offer of investment advisory services. This blog cannot be relied upon in making an investment decision. Nothing contained herein constitutes an offer to sell, or a solicitation to buy, any securities. This blog contains information Pantera believes to be reliable, and has been obtained from sources believed to be reliable, but Pantera makes no representation or warranty (express or implied) of any nature, nor accepts any responsibility or liability of any kind, with respect to the fairness, accuracy, completeness, or reasonableness of the information or opinions contained herein. Analyses and opinions contained herein (including market commentary, statements or forecasts) reflect the judgment of Pantera as of the date this blog was published, and may contain elements of subjectivity (including certain assumptions) or be based on incomplete information.
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