Nasdaq-Listed Fitell Adds PUMP tokens To Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company says the buy is part of an expanding Solana-centric treasury strategy.

Fitell Holds $10 Million in Solana Before Buying PUMP

Based on the press release, Fitell initially allocated $10 million to acquire SOL (Solana’s native token) as part of a $100 million convertible debt facility. With SOL trading around $203.27 at present, that $10 million would represent approximately 49,200 SOL tokens.

Therefore, Fitell had significant SOL holdings even before adding PUMP tokens. The new PUMP purchase supplements that base allocation, rather than replacing it.

PUMP is the token behind Pump.fun, a Solana-based memecoin launchpad. Recently, Pump.fun surpassed Hyperliquid in daily revenues, highlighting rapid growth for the Solana-based platform.

Fitell’s move follows its earlier announcement of the convertible note facility, which funded initial SOL purchases and now supports broader diversification.

Fitell Rebrands into Solana Treasury

For Fitell, the scale of its PUMP purchase is bold. With a market cap of only $6.8 million, the $1.5 million token buy is a substantial bet. After the news, its share price dropped 8.31% to $5.52.

Analysts suggested that such a large token allocation, relative to Fitell’s value, highlights huge risks. At the same time, broader Solana treasury activity is accelerating, with VisionSys recently launching a $2 billion Solana-based treasury.

Fitell’s action suggests that it’s planning for the future. The company plans to deploy its SOL and PUMP holdings in structured yield products. That strategy reflects its shift from fitness equipment retailer to digital asset treasury operator. Furthermore, the firm is planning a rebrand to “Solana Australia Corporation” to underscore its new direction.

PUMP Price Gains Slow as Futures Activity Cools

Market data shows PUMP has surged over 90% in market cap over the past month to around $2.5 billion. Adding institutional interest like this could reshape how such meme tokens are perceived.

On the derivatives markets, Coinglass reports that PUMP open interest is near $190 million. Its Long to short position ratio on Binance is 0.98, indicating an even sentiment.

However, the PUMP token trading volume reduced by nearly 30% to $466.8 million. This indicates a drop in futures activity even though the number of open positions is rising.

On TradingView, PUMP is hovering near $0.00707, up about 1% intraday. Moves earlier pushed it above $0.00720.