Breaking! Japan's first Solana treasury company has been established, institutional funds are pouring into the SOL ETP, and the SOL price is gearing up to surge towards $238.

Nasdaq-listed company DeFi Dev Corp announced a partnership with Superteam Japan to launch the country's first Solana digital asset treasury management company, DFDV JP. This move marks the second major expansion of the company’s “Treasury Accelerator Program” in Asia, aimed at helping institutions establish and manage Solana-based digital asset treasury systems. Influenced by this favourable information, the price of SOL has risen 3.56% in the past 24 hours, trading at $227.40, outperforming the market. Against the backdrop of explosive institutional demand, Solana ETP (exchange-traded products) saw inflows of up to $706 million in a single week, setting a historical record and highlighting institutional enthusiasm and bullish sentiment towards Solana.

DeFi Dev Corp joins forces with Superteam Japan: seizing the Japanese Solana institutional market

DeFi Dev Corp is continuously expanding its institutional services footprint in Asia. This collaboration with Superteam Japan marks its second important foothold in Asia after DFDV KR in Korea, focusing on serving the Japanese market, which has an open attitude towards blockchain innovation.

· “Treasury Accelerator” Launched: The establishment of DFDV JP is part of DeFi Dev Corp's broader “Treasury Accelerator Program,” aimed at providing institutions with strategic and technical support to help them adopt the Solana treasury system. The services include validating node infrastructure, balance sheet seeding, and ecosystem integration.

· Bullish on Japanese Regulation: Parker White, COO and CIO of DeFi Dev Corp, stated: “Japan remains one of the most forward-looking regions in terms of blockchain innovation and digital asset regulation.” Superteam Japan has strong local knowledge and community connections, having hosted Japan's largest Solana event, SuperTokyo, and collaborated with institutions like Minna Bank and Fireblocks on stablecoin projects.

· Milestone of Institutional Participation: Hisashi Oki, the national leader of Superteam Japan, described this collaboration as “a decisive milestone” for the Japanese blockchain industry, stating that the partnership will open a clear gateway for Japanese investors and enterprises to directly participate in Solana's rise.

· Company's Latest Holdings: Before announcing this news, DeFi Dev Corp reported its latest purchase of SOL: it increased its holdings by acquiring 196,141 SOL at an average price of $202.76. This move brought its total holdings to 2,027,817 SOL, currently valued at approximately $427 million.

Institutional Interest at an All-Time High: Solana ETP Fund Inflows Break Records

Under the combined effect of rising prices and accelerated institutional layout, Solana is becoming the focus of institutional investors, with the inflow of funds into its related ETP products reaching unprecedented heights.

· Record Inflows: Solana ETP (exchange-traded product) attracted up to $706 million in inflows over the past week, setting a new historical high. This figure is more than double the previous record set in July.

· AUM Breaks 5 Billion: Strong capital inflows have pushed the total assets under management (AUM) of Solana ETP above 5.1 billion USD.

· ETF Approval Approaches: Asset management firm Bitwise recently modified its Solana ETF application documents, adding staking provisions and lower fees, which is seen as a positive signal. Although the final decision deadline is October 16, experts generally expect the U.S. Securities and Exchange Commission (SEC) to approve multiple SOL-related ETFs within this week. Wealth Mastery founder Lark Davis believes that institutional demand for Solana is rapidly increasing, and the likelihood of the SEC approving the Solana ETF is also growing.

Technical Analysis of SOL Price: Stabilizing at 229 USD is Key, Expected to Challenge 238 USD

Driven by institutional bullish sentiment and capital inflows, SOL price has performed strongly recently, outperforming the broader market. The current technical trend indicates that the price is at a critical breakout point.

· Market Performance Strong: In the past 24 hours, the price of SOL has risen by 3.56% to $227.40, significantly higher than the average rise of 0.69% in the cryptocurrency market during the same period.

· Key Technical Level: Analysts point out that if the bulls can maintain the SOL price above 229.49 USD, the next target will be 238.56 USD. This is crucial for whether the current rising trend can continue.

· Short-term Risk Warning: Conversely, if the SOL price fails to hold the support level of 222.17 USD, it may trigger a short-term price pullback, dropping to 214.84 USD.

Conclusion

DeFi Dev Corp has established the first Solana treasury company in Japan, combining with Bitwise to promote the approval of Solana ETFs and the record inflow of ETP funds, jointly depicting the tremendous leap made by the Solana ecosystem in global institutional adoption. The opening of the Japanese market has brought new incremental institutional funding expectations for Solana. With the support of institutional fervor, the price momentum of SOL remains strong. Investors should closely monitor the key technical breakthrough point at $229.49, as well as the approval results of the Solana ETF in the coming week, which could be a catalyst determining whether the SOL price can quickly surge to $238 or even higher levels.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.