Phoenix Group, a Bitcoin mining firm listed on the Abu Dhabi Securities Exchange (ADX), has announced the launch of a $150 million crypto treasury dedicated to Bitcoin (BTC) and Solana (SOL). This move marks Phoenix Group as the first publicly traded company on the ADX to adopt a strategic crypto reserve.

The establishment of this crypto treasury reflects a growing trend among forward-thinking companies to incorporate digital assets into their financial strategies. By allocating a significant portion of its capital to BTC and SOL, Phoenix Group aims to capitalize on the potential long-term growth and diversification benefits offered by these cryptocurrencies.

Bitcoin, the world's first and most well-known cryptocurrency, is powered by a peer-to-peer network for verifying transactions. Its design ensures scarcity, with a maximum supply of 21 million coins. As of 2024, over 19 million Bitcoins have already been mined. Solana is a blockchain platform known for its high transaction speeds and scalability. Recent news indicates a surge in Solana's price during July 2025, which boosted its DeFi TVL by 14% to $9.85 billion and DEX volume by 30% to over $82 billion, subsequently increasing network revenue.

Phoenix Group's decision to include Solana in its crypto treasury highlights the company's belief in the altcoin's potential. Currently, one Solana (SOL) is worth BTC0.001534, a 0.5% increase from an hour ago and since yesterday. Over the last month, the price of Solana (SOL) has increased by 9.70% against Bitcoin (BTC).

The move by Phoenix Group is particularly noteworthy given the increasing regulatory interest in crypto assets. For instance, the Cboe BZX exchange has sought regulatory approval for Invesco Galaxy's spot Solana ETF. The SEC is also opening doors for more crypto ETFs.

The new crypto treasury was formalized in Phoenix Group's Q2 2025 results. This initiative aligns with the broader trend of companies exploring the use of crypto assets for various purposes, including investments, capital raising, and operational efficiency. Other recent developments in the crypto space include the launch of Ethereum ETFs, which have matched a record 19-day inflow streak, adding $5.4 billion as holdings near 5% of the ETH supply.

The launch of this crypto treasury could potentially encourage other companies in the region and beyond to consider similar strategies, further driving the adoption of digital assets in the corporate world.