TLDR
Forward Industries now holds about 8.7 million SOL, worth roughly $726.5 million
The company added 226,396 SOL since Oct. 1 through purchases and staking rewards
It secured a two-year, $50 million credit line backed by staked SOL
FWDI hit a near three-month low of $5.25 and is down more than 28% this year
Forward committed up to $50 million to USHP, a tokenized U.S. home-price product
Forward Industries (FWDI) stock was trading near $5.24 on Tuesday. That is far below its 52-week high of $11.32.
Forward Industries, Inc., FWDI
The stock touched a near three-month low of $5.25 during the session. It is down more than 28% so far this year.
The move came as Solana’s SOL fell as low as $82, its weakest level in almost three months. The token later bounced to around $83.50.
Forward Industries keeps stacking $SOL into the dip
~8.7M SOL (~$726.5M), ~1.5% of supply
⁰+226K SOL since end of Sept
⁰$50M bank credit line backed by staked SOL
⁰SOL hit ~$82, near a 3-month low
Treasuries buying while CT cries #Solana #SOL #FWDI #CryptoTreasury … pic.twitter.com/nhggL4uAO2
— ₿lockChain Advisors 𝕏 (@PresidentNoble_) November 11, 2026
Against that backdrop, Forward posted a treasury update. Its holdings reached 8,727,694 SOL.
That pile is worth roughly $726.5 million. It equals about 1.5% of Solana’s circulating supply.
Forward added 226,396 SOL since Oct. 1. The gains came from purchases and staking rewards.
The tokens were added at an average cost of $75 each. That figure counts staking rewards as having no cash cost.
A Wide Lead Over Rival Treasuries
Forward runs the largest Solana treasury among public companies, and it is not close. DeFi Development Corp. (DFDV) is next with just over 2.6 million SOL.
SOL per fully diluted share rose to 0.0824 from 0.0806 at the end of September. That is a 2.3% gain in 40 days, or about 21% annualized.
Net asset value tells a different story. It fell to $600.3 million from $870.4 million over the same stretch, tracking the lower SOL price.
Forward also lined up a new two-year, $50 million credit facility. An unnamed U.S. national bank is the lender.
The loan carries an interest rate of SOFR plus 150 basis points. SOL in the treasury secures it.
That SOL will stay staked. So Forward keeps earning rewards while the collateral sits behind the loan.
The company plans to use the proceeds for its SOL++ strategy. Chief Investment Officer Ryan Navi called it an “all-weather” approach.
Housing Bet Comes With a Twist
Forward also committed up to $50 million to USHP. The company calls it the first tokenized liquid index product tracking U.S. home prices.
Forward will co-anchor the $100 million launch. The Galaxy -Sharplink Onchain Yield Fund also anchored it.
The company expects to earn U.S. dollar income from the housing market through USHP’s income-bearing token. It plans to put that income toward buying more SOL.
Navi said the steps advance the goal of building the “Berkshire Hathaway of Solana.” Shares were trading at $5.24 at last check.
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