Forward Industries (FWDI) announced that it holds 6,921,342 tokens of SOL valued at approximately $1.59 billion as of December 1, according to a statement from the company. This holding represents what the company describes as the largest treasury position in Solana in the world.
The company launched its Solana treasury strategy in September 2025, purchasing 6,834,505.96 tokens of SOL at an average cost of $232.08 per token. Currently, nearly all holdings are placed in the storage system through the company's authentication framework, which has achieved an annualized total return ranging between 6.82% and 7.01% since its launch.
Forward Industries completed a $1.65 billion private placement in September led by Galaxy Digital, Jump Crypto, and Multicoin Capital. The company also announced a market offering program covering up to $4 billion of common stock sales and authorized a $1 billion stock buyback program.
The company launched two new products: fwdSOL, a liquid staking token, and Forward PropAMM, developed with support from Galaxy and infrastructure input from Jump Crypto. Forward Industries also partnered with Superstate to allow shareholders to convert FWDI shares into tokens on the Solana blockchain.
As of December 2, the company maintains approximately $30 million in operating capital through cash and USDC reserves, reporting no debt obligations. The company changed its trading symbol from "FORD" to "FWDI" on the NASDAQ.
Forward Industries appointed Ryan Navi as Chief Investment Officer and Georgia Coyne as General Counsel. The company established a cryptocurrency advisory board consisting of 25 members and completed a tax optimization process that reset $334 million of nominal value at a net cost of about $51,600.$SOL
