Solana News Update: DATs Initiate Buybacks to Narrow NAV-Price Gap Amid Market Volatility

Upexi Inc. (NASDAQ:UPXI) has

, representing the latest step by a digital asset treasury (DAT) company to enhance shareholder returns during turbulent market conditions. The company, listed on Nasdaq and specializing in (SOL) blockchain investments, in its long-term vision while keeping its treasury robust. The board highlighted that share repurchases would be made "opportunistically," taking into account market trends and available liquidity .

This buyback comes after a significant drop in Upexi’s stock, which has

to about $3.43, down from a peak of $6.50. This decrease reflects the broader challenges facing DATs, which are often priced below their net asset value (NAV) as investors remain cautious. Upexi’s mNAV is currently 0.68, while competitors such as Forward Industries (0.82) also trade under their asset values . The company’s treasury contains more than 2.1 million , worth $319 million, which accounts for 0.35% of Solana’s circulating supply .

This action is part of a broader pattern among DATs, especially those holding alternative cryptocurrencies like

and Solana, who are increasingly turning to share buybacks as a protective measure . Companies such as Forward Industries, which recently revealed a $1 billion buyback, and Solana Company (HSDT) have implemented similar strategies to help support their stock prices . Experts point out that these initiatives are intended to reassure investors and boost mNAV figures. "This share buyback program highlights our dedication to creating lasting value for our shareholders," commented CEO Allan Marshall, noting that the company will focus on maximizing returns while still pursuing strategic growth .

Upexi’s financial reports reveal its dual emphasis on digital assets and consumer products. In its latest quarter, the company

and net income of $66.7 million, largely fueled by $78 million in unrealized gains from Solana. Nevertheless, its share price has come under pressure amid a general downturn in the crypto market, with SOL trading close to $150 in October 2025. Despite these market swings, has a current ratio of 1.74, showing it has enough liquidity to cover its short-term liabilities .

The DAT industry’s dependence on buybacks has sparked some concern among market observers. Galaxy Research cautioned in July that widespread redemptions or buybacks could lead to a broader market sell-off, worsening declines

. Publicly traded Solana treasuries, including Upexi, collectively hold 24 million SOL (worth $3.4 billion), with nearly half of that staked to earn an average yield of 7.7% . Still, as institutional holdings remain steady, companies are carefully balancing between safeguarding capital and pursuing expansion.

By launching its buyback plan, Upexi is part of a wider movement toward defensive tactics within the DAT industry. The company’s approach highlights the sector’s shifting function as both a value store and a source of yield through staking and validator activities

. As the cryptocurrency market remains unpredictable, Upexi’s approach could become a reference point for how DATs respond to investor attitudes and broader economic trends.