Forward Industries Inc. (NASDAQ: FWDI) has significantly expanded its Solana (SOL) holdings, adding over 500,000 SOL during fiscal Q3 2026 at an average purchase price of approximately $79 per SOL. This brings the company’s total holdings to 7.55 million SOL as of June 30, according to a press release issued by InvestorWire.
The company also sold 93,642 shares through its at-the-market offering, reporting 36% annualized SOL-per-share growth. Forward Industries says this demonstrates its ability to raise capital in an accretive manner, meaning the issuance of shares does not dilute the value of its Solana holdings per share. By selling shares to fund additional SOL purchases, the company aims to increase the amount of SOL attributable to each share, a strategy that has gained traction among digital asset treasury companies.
In a significant development, Forward Industries was included in the Russell 2000 and Russell 3000 indexes, which the company says provides additional access to institutional capital. Inclusion in these widely followed indexes typically leads to increased demand from index funds and institutional investors, potentially boosting the stock’s liquidity and visibility.
Additionally, the company has introduced its proprietary fwdSOL staking token, which provides another source of liquidity. Staking involves locking up SOL to support network operations in exchange for rewards, and fwdSOL allows investors to gain exposure to staking yields while maintaining liquidity. This token is part of Forward’s broader strategy to engage with and strengthen the Solana ecosystem.
Forward Industries describes itself as a “Solana focused digital asset treasury company” with a strategy to buy, hold, stake, trade, invest in, and grow SOL and related digital assets, protocols, and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with Solana developers and projects to increase shareholder value.
The company launched its digital asset treasury strategy in September 2025 in connection with a private placement transaction, supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. These partnerships provide credibility and operational expertise in the crypto space.
Forward Industries’ aggressive accumulation of SOL reflects a growing trend among public companies to hold digital assets as part of their treasury reserves. By focusing solely on Solana, the company is making a bet on the long-term success of that blockchain network. With institutional access and a novel staking token, Forward is positioning itself as a key player in the Solana ecosystem.
For more information on the company’s Solana treasury strategy, visit www.forwardindustries.com. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
