Forward Industries has expanded its Solana treasury by roughly 226,000 $SOL since the end of September, combining ongoing token purchases with staking rewards. According to the company's Tuesday update, total holdings now stand at about 8.7 million $SOL, worth approximately $726.5 million — a balance equal to roughly 1.5% of Solana's total circulating supply.

The update confirms Forward Industries' position as the largest Solana treasury among publicly listed companies. DeFi Development Corp. ranks second, holding just over 2.6 million $SOL — less than a third of Forward Industries' balance.

$50 Million Credit Facility From a U.S. National Bank

An unnamed U.S. national bank has extended Forward Industries a $50 million credit facility, with terms giving the company access to the line for two years. The $SOL backing the loan will remain staked, allowing the company to continue earning staking rewards while the collateral is committed. It is an example of traditional bank credit being extended against staked digital assets, letting the company raise liquidity without selling treasury tokens or interrupting reward accrual. Any drawdown on the facility, and how proceeds are used, should surface in future company disclosures.

Up to $50 Million Pledged to Tokenized Home-Price Product USHP

In a separate move, Forward Industries has committed up to $50 million to USHP, a tokenized product that tracks U.S. home prices. The Galaxy-Sharplink Onchain Yield Fund also anchored the product's launch. Management plans to use income generated from the investment to purchase additional $SOL for its treasury, giving the company a second income-driven accumulation channel alongside staking rewards.

Sharplink announced the launch in a post on X:

The @galaxyhq Sharplink Onchain Yield Fund anchored the launch of @USHP_Official. USHP is the first tokenized index product tracking U.S. home prices. U.S. housing is a $55 trillion market. Investors now have an easy way to own it as an index. pic.twitter.com/w9BlN33I0t
— Sharplink (@Sharplink) November 10, 2026

SOL and Forward Industries Shares Trade Near Three-Month Lows

Solana's price fell to around $81 during Tuesday's trading session, marking its weakest level in almost three months. The token later recovered and was trading at approximately $83.40. Treasury positions are marked at market value, so SOL's price moves feed directly into the reported dollar worth of holdings such as Forward Industries' roughly 8.7 million $SOL stake.

Forward Industries' stock also declined, dipping to $5.25 and hovering close to a three-month low. Losses since the start of the year now exceed 28% for the company's shares. Future treasury updates will show whether purchases and staking rewards keep adding to the balance, and whether USHP income begins funding additional $SOL purchases as planned.