Upexi Expands Investment in Solana, Chooses BitGo to Custody $100 Million in Tokens

• Upexi Invests $100 Million in Solana Tokens
• BitGo to be the official custodian of Upexi’s digital assets
• Solana Staking Reinforces Corporate Revenue Strategy

BitGo, a leading cryptocurrency custody company, has entered into a new partnership with Upexi, a US e-commerce company, to manage the company’s digital assets, which recently doubled its exposure to Solana (SOL). Upexi will now use BitGo’s institutional custody and over-the-counter trading services in a strategic move to protect its investments and increase operational efficiency in managing its tokens.

The alliance between the two companies comes shortly after Upexi announced the acquisition of 326.347 SOL tokens at a discount, at an average price of $135,22 per unit. With this move, the company has increased its total position to over 595.000 SOL — a portfolio valued at approximately $100 million. The investment is part of a larger plan by Upexi, which has an investment commitment anchored by GSR to maximize its allocation in Solana.

Staking these tokens is part of Upexi’s strategy. The practice, which consists of blocking cryptocurrencies in a network to validate transactions and receive rewards, has become a revenue generation model for companies in the sector. According to BitGo itself, around half of the assets under its custody are currently allocated to staking.

🚨BREAKING: Upexi has acquired 326,347 locked SOL at $135.22 and now holds 596,714 SOL total, purchased at an average of $141.10.

Its $102M SOL treasury is now the largest among publicly traded companies. pic.twitter.com/oA8Cwi8wld

— SolanaFloor (@SolanaFloor) May 13, 2025

This move by Upexi is reminiscent of the approach adopted by listed Bitcoin miners, who invest capital in infrastructure to obtain financial returns by protecting the network. The difference is that, in the case of Solana, the invested tokens can be directly used in the protocol via staking, offering liquidity with potential returns.

“As public and private companies continue to expand their corporate treasury asset allocation to bitcoin and other digital assets, we are excited to work with Upexi to provide a safe and secure environment not only for the organization, but also for its shareholders,” said Nathan Stump, Director of BitGo.

With the increasing allocation of funds in Solana, Upexi positions itself among the companies that are adopting cryptocurrencies as a treasury strategy, alongside names that follow models similar to Michael Saylor's with Bitcoin.