Key Notes
- Figment will manage staking operations for Grayscale’s Ethereum ETPs and Solana Trust products.
- Solana corporate treasury holdings increased significantly reaching $2.9 billion despite recent market volatility.
- DevvStream announced $2.7 million SOL investment exceeding its Bitcoin allocation for staking income.
Digital asset manager Grayscale has selected Figment as the institutional staking partner as the US SEC approaches deadlines on altcoin ETFs in review.
According to to a press release on October 9, Figment will run staking operations for Grayscale US Ethereum
ETH
$4 315
24h volatility:
4.5%
Market cap:
$520.77 B
Vol. 24h:
$42.39 B
ETPs and a Solana
SOL
$217.8
24h volatility:
4.8%
Market cap:
$118.95 B
Vol. 24h:
$8.19 B
Trust.
This key announcement comes just weeks after Bloomberg analyst declared Solana ETF approval odds a near certainty late in September.
Grayscale aims to leverage Figment’s institutional-grade infrastructure to integrate Proof-of-Stake rewards directly into its ETPs, allowing investors to generate passive income without on-chain activity.
StakingRewards data shows Figment provides staking services for 25 different PoS assets, with 39.1% of its $6.19 billion total staked assets under management deposited on Solana as of October 9, 2025.
Solana Treasury Holdings hit $2.9B as Investors Anticipate Solana ETFs
Solana treasuries continued to gain traction this week despite widespread profit-taking after Bitcoin
BTC
$120 779
24h volatility:
2.2%
Market cap:
$2.41 T
Vol. 24h:
$69.58 B
retraced from its all-time high of $126,000.
CoinGecko data shows that SOL treasuries rose 22.7% to reach $2.9 billion on Thursday, October 9, signaling steady corporate demand as markets anticipate the SEC’s altcoin ETF verdicts later this month.
Solana Treasury Holdings as of October 9, 2025 | Source: CoinGecko
While Grayscale’s partnership with Figment strengthens institutional confidence, Solana has also attracted attention from new ecosystem entrants.
On Thursday, America.Fun launched on Solana to drive USD1 adoption on Solana, capitalizing on Bonk’s recent partnership with World Liberty Financial (WLFI) and decentralized exchange Raydium. According to the announcement, the project is designed to expand the USD1 utility and support Solana projects that build around the stablecoin with liquidity.
This aligns with WLFI’s aggressive drive for cross-chain integration of the USD1 stablecoin.
Aptos network also confirmed USD1 adoption on Monday, integrated by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), attracting over $447 million in intraday trading volume.
In Canada, Solana received another major boost on Thursday, as Calgary-based Carbon Management firm, DevvStream announced 12,000 SOL holdings valued at $2.7 million investment in its latest portfolio report. Notably, SOL holdings in the firm’s crypto treasury exceed its current Bitcoin balances of 22 BTC valued at $2.6 million at the time of filing.
According to DevvStream statement, the firm aims to prioritize incremental income through SOL staking with a long-term view towards launching tokenized real-world assets for renewable-energy plants and energy-trading contracts.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
Source: https://www.coinspeaker.com/solana-treasury-holdings-near-3b-as-grayscale-partners-figment-for-institutional-staking/
