Ken Griffin’s Citadel Buys 4.5% Stake in Solana Firm
Ken Griffin’s Citadel filed a Schedule 13G to disclose a 4.5% stake in DeFi Development Corp, a Solana-focused treasury firm. Citadel Advisors and affiliates hold 1.315 million shares—4.5% beneficial ownership—of the Nasdaq-listed company. DeFi Development manages 2,195,926 SOL, about 0.4% of Solana’s circulating supply, acquired at $236.5 million and now valued at $395.3 million. This marks a 67% unrealized gain on Solana assets. SOL has jumped 370% since April 2025 to around $179. Technical indicators show a double-bottom pattern and resistance at $190, pointing to a possible rally toward $260 if breached. Citadel’s move highlights growing institutional investment in Solana and could boost market momentum. Secondary projects like the SUBBD token presale have also seen demand surge, raising $1.45 million. This shift reflects evolving views in crypto trading, echoing past Bitcoin purchases by firms like MicroStrategy.
Bullish
Citadel’s 4.5% acquisition of DeFi Development shares signals strong institutional confidence in Solana’s treasury model and staking yield. The firm’s sizable SOL holdings and unrealized gains highlight Solana’s growth potential. Combined with bullish technicals—a double-bottom pattern and clear resistance levels—the news may trigger renewed buying interest and support a price breakout toward $260. Historical precedents, like MicroStrategy’s Bitcoin purchases, show such moves can drive both short-term rallies and long-term network validation.