Upexi Secures $100M Backing from GSR to Fuel Solana-Based Treasury Shift

On Monday April 21, global crypto trading firm GSR announced a $100 million private placement into the e-commerce and logistics company. Following the news, Nasdaq-listed Upexi Inc., saw its stock climb 335.68% on Monday to end at $9.89 apiece .

Notably, the investment is tied to Upexi’s rumored pivot into blockchain finance, specifically, a bold move to adopt Solana (SOL) as a core treasury asset.

“This investment highlights the growing demand for efficient, secure access to high-quality crypto assets in public markets,” said Brian Rudick, Head of Research at GSR.

1/ GSR has led a $100M private placement into Nasdaq-listed Upexi, Inc. to support its @solana-based treasury strategy. 🧵 https://t.co/7TX2M5X5Tr

— GSR (@GSR_io) April 21, 2025

Solana in the Spotlight as TradFi and DeFi Begin to Merge

GSR President Jakob Palmstierna emphasized the strategic nature of the investment, calling it a reflection of the firm’s broader mission. 

“This underscores our commitment to supporting the DeFi ecosystem with both capital and long-term resources,” Palmstierna said.

The move also earned praise from Solana Foundation President Lily Liu, who described the development as “a signal of how traditional finance and DeFi are starting to intersect.”

She pointed to Upexi’s use of Solana’s blockchain infrastructure as an example of real-world adoption that could reshape how companies manage treasury operations.

Solana has seen renewed momentum in recent months, with an uptick in developer activity, DeFi projects, and institutional curiosity. Upexi’s potential integration of SOL into its corporate treasury would mark one of the most prominent examples of a publicly traded firm embracing decentralized assets, not just for speculation, but as part of its financial backbone.

Modest SOL Rally Meets Major Institutional Buy‑In: GSR, Franklin Templeton & ARK Invest

After the GSR–Upexi announcement, Solana (SOL) saw only a modest uptick—trading at roughly $138 and gaining just under 1%—even as Upexi’s share price leapt over 300% on the promise of a $100 million Solana‑based treasury.

This difference between SOL’s measured response and Upexi’s equity frenzy shows the depth and resilience of Solana’s liquidity: large orders are absorbed without wildly increasing price swings.

Behind that small rally lies a growing number of institutional backers who see Solana’s low fees, high throughput, and on‑chain staking yields as ideal for corporate treasury operations.

In February 2025, Franklin Templeton migrated its OnChain U.S. Government Money Fund (FOBXX)—a $594 million tokenized money‑market fund—onto the Solana network signaling a commitment to bring traditional asset management onto this blockchain.

New chain unlocked. BENJI is now live on @solana!

Solana is a fast, secure and censorship resistant Layer 1 blockchain encouraging global adoption via its open infrastructure.

Download the Benji app here: https://t.co/ITah6qMtns
Read more: https://t.co/4j3TDC9VHM pic.twitter.com/3aiODzkK3T

— Franklin Templeton Digital Assets (@FTDA_US) February 12, 2025

The firm also filed with the SEC to launch a spot Solana ETF, signalling intent to offer direct SOL exposure in the U.S. mark

Meanwhile, Cathie Wood’s ARK Invest quietly secured Solana exposure through a multi‑million‑dollar position in Canada’s 3iQ Solana Staking ETF, blending price appreciation potential with passive yield.

As more blue‑chip managers integrate SOL into their digital asset strategies, the chain’s narrative shifts: it is no longer just a retail‑driven ecosystem, but a scalable, enterprise‑grade platform positioned to anchor the next generation of tokenized finance.