Share this article
Solana treasury-focused Upexi files for up to $1 billion capital raise
The company manages a portfolio of consumer brands and holds about 2 million SOL, making it the fourth-largest solana treasury of any public company.
Dec 23, 2025, 4:30 p.m.
What to know:
- Upexi, a crypto treasury firm focused on solana (SOL), filed a $1 billion shelf registration with the SEC to raise capital through various securities offerings.
- The company manages a number of consumer brands and holds some 2 million SOL tokens, making it the fourth-largest SOL treasury of any public company.
- The proceeds from potential securities sales could be used for purposes, including working capital, research and development and debt repayment, and come after the company's shares have lost over 50% of their value this year.
Upexi (UPXI), a Nasdaq-listed crypto treasury firm focused on solana , filed to raise as much as $1 billion in a shelf registration with the U.S. Securities and Exchange Commission (SEC),
The move gives the company the flexibility to raise capital by selling common stock, preferred shares, debt instruments, warrants or units in one or more offerings over time.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Based in Tampa, Florida, Upexi manages a number of consumer brands including Cure Mushrooms medicinal products and Lucky Tail pet care. It also manages the fourth-largest SOL treasury of any public company, with more than 2 million tokens ($248 million) on its balance sheet.
Proceeds from the securities sales, if and when executed, could be used for working capital, research and development, acquisitions and debt repayment, among other general purposes.
The company’s shares fell almost 7% on Tuesday to $1.85. Year-to-date, UPXI has lost about 50% of its value, while SOL dropped by 34%.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
