Sharps now holds over 2 million SOL tokens, worth roughly $400 million, with Solana trading above $225 at press time.

From Medical Tech to Blockchain Finance

Under the deal, Sharps will use Coinbase Prime for institutional custody and OTC trading — tools that bring secure storage, deep liquidity, and full transparency to its growing digital portfolio

“Managing a treasury of this scale requires institutional tools, reliable execution, and competitive access to liquidity — and that’s exactly what Coinbase delivers,” said James Zhang, Strategic Advisor at Sharps Technology.

For Sharps, the partnership isn’t just about holding crypto. It’s about building a compliant, professional framework for blockchain-based asset management while keeping the discipline of traditional finance.

Why Solana

Earlier this year, Sharps pivoted away from healthcare technology to focus on Solana’s fast-growing DeFi and NFT ecosystem. The company believes Solana’s low fees and scalability make it a natural foundation for long-term blockchain investment.

Sharps has already teamed up with Jupiter Exchange — staking part of its holdings through JupSOL, a liquid staking product — and partnered with Pudgy Penguins, a Solana-native NFT project. Both collaborations are part of its plan to build a diversified, yield-generating treasury that combines traditional and crypto assets.

A $400 million funding round led by Cantor Fitzgerald gave Sharps the capital to pursue this strategy. Despite a negative EBITDA of $10.23 million over the past year, the company maintains a healthy liquidity ratio of 4.35, and its stock has climbed 59% in six months to $6.69.

Coinbase Expands Solana’s Institutional Reach

The partnership also fits neatly into Coinbase’s growing focus on Solana. The exchange has boosted Solana transaction capacity fivefold and upgraded its liquidity systems to handle institutional demand.

Interest from large investors is surging — Solana spot ETFs are now live in Canada via 3iQ and Evolve, and Franklin Templeton has joined Coinbase in offering Solana custody solutions.