Solana Launches DAT 2.0 with $500M PIPE, Eyes $1,000 SOL
Solana Company, founded by ex-UBS banker Joseph Chee, has launched DAT 2.0 in partnership with Pantera Capital and Avenir Group, raising over $500M through a PIPE to secure WKSI status for expedited SEC registrations. The digital asset trust will accumulate SOL via premium equity offerings, NAV-based share buybacks, and leverage instruments. Chee cites Solana’s low fees, scalability, active developer ecosystem and growing institutional ETF approvals as foundations for SOL’s bullish outlook. He forecasts SOL could trade above $500 within six months and reach $1,000 in the next bull cycle. This DAT 2.0 initiative positions the firm as a “Berkshire-like” steward, driving enhanced institutional adoption, liquidity and a tech-driven price rally for Solana.
Bullish
This news is bullish for SOL because the successful $500M PIPE and pursuit of WKSI status will streamline fundraising and SEC registration, enabling the DAT 2.0 trust to acquire substantial SOL holdings through equity issuances and buybacks. Chee’s $500 and $1,000 price forecasts, backed by Solana’s low fees, scalability and growing institutional ETF approvals, signal strong demand. In the short term, the PIPE influx and buyback mechanism could provide immediate support for SOL price, while long-term institutional adoption via DAT 2.0’s “Berkshire-like” model may drive sustained growth and liquidity, reinforcing a bullish market outlook.