Hong Kong-listed Meme Strategy, which was recently acquired by 9GAG’s co-founder, has taken its first major step into the crypto world. The company announced that it acquired 2,440 Solana (SOL) tokens on June 16, which accounts for approximately HK$2.9 million. The purchase was funded fully through internal resources.
Meme Strategy’s Solana Strategy Makes Headline
Solana is gaining traction as an important infrastructure layer for decentralized applications, DeFi platforms, and next-gen Web3 innovation. MemeStrategy’s board highlighted Solana’s growing role in areas like tokenized real-world assets, AI-powered applications, and memecoin-fueled consumer engagement.
The company views this investment as a strategic treasury move. By holding SOL, MemeStrategy aims to tap into a rapidly expanding ecosystem of developers and institutions, earn passive income through staking, and diversify its digital asset portfolio to protect against broader market volatility.
This announcement comes shortly after 9GAG co-founder Ray Chan completed the acquisition of the company, formerly known as Hojin Technology Holdings. With the rebranding to MemeStrategy, the firm has shifted focus toward blockchain, crypto, and Web3. A Bitcoin allocation is also reportedly in the pipeline.
Following the news, MemeStrategy’s shares surged over 21%, with the stock now trading at HK$2.42. Investors appear to be backing the company’s pivot and its belief that Solana could be a key pillar of its digital strategy going forward.
Solana, meanwhile, is trading at $157.00, after a jump of 6.80% in the past day. With a 24 hour market cap of $4.48 billion, the crypto rests strong at a market cap of $4.48 billion. Trading volumes have surged recently, and with speculation around the approval of a Solana ETF, market sentiment remains bullish.
Momentum for a Solana ETF is building. A recent directive from the US Securities and Exchange Commission (SEC) requested updated filings from potential issuers and indicated openness to including staking rewards in fund structures. This move is seen as a significant step forward for altcoin-based ETFs.
“Get ready for a potential Altcoin ETF summer, with Solana likely leading the way — along with some basket products,” Bloomberg analyst Eric Balchunas wrote on X, citing insights from colleague James Seyffart and updated ETF approval odds.
With regulatory doors seemingly cracking open, the launch of a Solana ETF could become a reality in the coming weeks.
Meanwhile, institutional interest in cryptocurrencies continues to grow. Following the lead of Strategy (formerly MicroStrategy), more companies are looking to build Bitcoin reserves.
Today, Japan-based Metaplanet announced plans to increase its Bitcoin holdings. The publicly listed firm currently holds around 8,888 BTC, valued at approximately $934.48 million. In a similar move, Mercurity Fintech Holding Inc. (Nasdaq: MFH) disclosed its intention to raise $800 million to support a long-term Bitcoin treasury reserve strategy.
Also Read: US SEC Blocks $1B Solana DeFi Project, S-3 Filing Withdrawn
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