Fitell Corporation (NASDAQ: FTEL) has secured a $100 million financing facility to launch what it calls Australia’s first Solana-native digital asset strategy, marking a clear strategic pivot for the company — historically known for fitness equipment — toward crypto and blockchain treasury management. The company plans a dual listing on NASDAQ and the ASX and will rebrand as Solana Australia Corporation as part of the transition.

The financing will fund a Solana-based digital asset treasury designed to give the company direct exposure to SOL and Solana ecosystem opportunities, positioning treasury assets to capture on-chain yield and utility available within the network.

Market reaction was immediate: Solana’s price fell roughly 2.5% on the news, a movement analysts attribute in part to short-term profit-taking and the mixed sentiment that often accompanies corporate entries into crypto.

Observers note this shift follows similar institutional activity elsewhere, including a recently reported $300 million Solana treasury managed by Solmate in the UAE, highlighting a growing pattern of large-scale corporate and institutional allocations to Solana.

Industry commentators view Fitell’s strategy as reflective of broader trends, with traditional firms increasingly integrating blockchain and DeFi elements into corporate treasuries to diversify holdings and tap new on-chain yield and utility. The announcement also arrives amid ongoing regulatory scrutiny in multiple jurisdictions, a factor that could shape execution and investor appetite.

For crypto and DeFi communities, the development underscores both the growing institutional interest in alternative Layer‑1 networks and the volatility such transitions can introduce to token markets.

Fitell’s rebranding and dual-listing plan will be watched closely as a potential blueprint for other non-crypto companies evaluating digital-asset strategies.