Canada’s SOL Global Investments, a fund specializing in Solana [SOL] and its technology ecosystem, is seeking to secure C$3.6 million (approximately $2.5M) to acquire more SOL tokens.
The fund is planning to raise funds by issuing common shares, following a strategy similar to MicroStrategy, which leverages debt and shares to purchase Bitcoin [BTC] and enhance the value of its MSTR stock.
Unlike MicroStrategy, however, SOL Global Investments generates returns for its investors through SOL staking and the appreciation of its price.
But has the value of the fund’s shares (SOL) experienced the same surge as MicroStrategy’s stock has seen from Bitcoin’s recent all-time highs?
SOL Global Investments Stock Performance
This recent investment plan comes shortly after the fund acquired $2M worth of SOL (equivalent to 8,123 tokens) on November 18th.
Notably, the fund’s decision seems to have paid off, as the price of its shares (SOL) has reached new heights during Solana’s continuous ascent since October.
Year-to-date, the fund’s shares have climbed by 73%, in contrast to SOL’s nearly 300% increase. The correlation between the fund’s shares and Solana’s price strengthened significantly starting from October, after a period of decoupling at the beginning of the fourth quarter of 2024.
Since the lows in October, the fund’s share price has surged from $0.02 to nearly $0.2, marking an impressive 850% rise in just a few weeks.
During the same timeframe, SOL has also witnessed a surge of 82%, rising from $138 to over $248. With its positive responsiveness to Solana’s price movements, the fund’s shares could potentially see further gains if SOL continues to climb on the charts.
Currently, SOL is valued at $237 and might be targeting levels of $250 and $260.