Billionaire and Citadel founder and CEO Ken Griffin has disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a digital asset treasury company focused on accumulating Solana.
According to a Schedule 13G filing with the U.S. Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing approximately 4.5% of DeFi Development's outstanding common stock.
Additionally, Citadel Advisors LLC and its affiliated entities reported owning 800,000 shares of DFDV, accounting for about 2.7% of the company's outstanding shares.
This disclosure further underscores Wall Street's growing participation in digital assets. A recent report from a16z Crypto highlighted the acceleration of institutional adoption, mentioning that firms like BlackRock, JPMorgan, Fidelity, and Citigroup are expanding their activities in this space.
Citadel Advisors LLC is the investment management arm of the Citadel hedge fund group and is a registered investment advisor with the SEC. Citadel manages approximately $65 billion in assets across its various funds.
DeFi Development Corp. has become the second-largest Solana (SOL) treasury company—a small but growing group of firms competing to accumulate this digital asset.
In early September, the company purchased $117 million worth of SOL in just eight days, bringing its treasury holdings to over $400 million.
According to CoinGecko data, DeFi Development Corp. has added 86,307 SOL in the past 30 days, increasing its total holdings to 2,195,926 SOL. Although the value of these holdings has fallen below $400 million amid a broad market sell-off, the company's cost basis of approximately $236 million means it remains in a profitable position.
The only company with a larger Solana treasury is Forward Industries, which holds about 6.82 million SOL, nearly three times that of DeFi Development Corp.
The rise of Digital Asset Treasury (DAT) strategies reflects a growing trend of companies strengthening their balance sheets and investor appeal by engaging with high-growth crypto assets. However, analysts warn that this strategy carries significant risks.
David Duong, head of institutional research at Coinbase, told Cointelegraph that "regulatory changes, liquidity, and market pressures" could drive consolidation in the digital asset treasury industry, with larger players potentially absorbing smaller competitors.
Standard Chartered analysts warned that as market net asset values (mNAV) decline, many DAT companies may face valuation compression. mNAV measures a company's enterprise value relative to the market value of its cryptocurrency holdings. Ongoing market weakness may make it more challenging for DATs to raise new capital to expand their treasuries.
Standard Chartered specifically noted that DeFi Development Corp. is among those companies experiencing valuation compression as they adapt to new market realities in the industry.
Related: Standard Chartered: $19 billion market crash paves the way for Bitcoin (BTC) to hit $200,000
Original article: “Citadel CEO Discloses Huge Stake in Solana Treasury Company”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
