Forward Industries moves $30M in SOL to Coinbase Prime as Solana and ETFs stay under pressure

Forward Industries transferred 455,784 SOL, valued at roughly $29.2 million to $31.87 million, to a centralized exchange platform (Coinbase Prime) after about a month of inactivity, according to blockchain reporting cited by multiple outlets. The company’s Solana treasury strategy, launched in September 2025, has involved buying millions of SOL over that period, leaving its holdings with a reported large unrealized loss ^{[1] [2] [3]}.

The transfers come as Solana’s price remains weak, with one report tying the broader move to renewed scrutiny of the corporate SOL treasury model. Separately, the same coverage notes Solana spot ETFs posted negative net flows on June 3 and June 4, extending what it describes as an institutional exit trend ^{[1] [4]}.

The corporate SOL transfer to Coinbase Prime highlights Forward Industries’ ongoing treasury activity amid continued downward pressure on Solana and negative institutional flows into Solana spot ETFs, based on the reported figures ^{[1] [2]}.