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SOL Strategies Takes Wall Street: First SOL-Focused Firm Wins Nasdaq Listing Approval

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SOL Strategies Inc., a Canadian firm devoted to investing in and offering infrastructure for the Solana blockchain, has secured approval to listing its frequent shares on the Nasdaq Global Select Market.

The company confirmed the information this week, marking it as the primary Solana-focused public agency to attain a U.S. itemizing.

Trading is scheduled to start on September 9, 2025, underneath the ticker image STKE. Until then, the corporate’s shares will proceed to commerce on the Canadian Securities Exchange underneath the image HODL.

Once Nasdaq buying and selling begins, its inventory will not seem on the OTCQB Venture Market, the place it presently trades underneath the image CYFRF. Shareholders on the OTCQB don’t must take motion, as their holdings will routinely convert to the Nasdaq itemizing.

SOL Strategies to Begin Nasdaq Trading Under ‘STKE’ on September 9

The itemizing, nonetheless topic to the corporate’s Form 40-F registration assertion turning into efficient with the U.S. Securities and Exchange Commission, represents a milestone in bringing Solana-focused infrastructure to regulated American capital markets.

Chief Executive Officer Leah Wald described the approval as validation not only for the corporate however for Solana’s broader ecosystem.

“Joining Nasdaq aligns us with the world’s most modern know-how firms and positions us to draw the institutional buyers who acknowledge the transformative potential of Solana’s infrastructure,” Wald stated.

She added that the itemizing would give shareholders better liquidity and supply the corporate with entry to deeper capital markets because it scales validator operations and expands investments.

The approval follows a sequence of strikes by SOL Strategies to align with Nasdaq necessities. In July, the company consolidated its shares on a one-for-eight basis, decreasing its complete excellent shares from greater than 176 million to about 22 million.

The consolidation was designed to satisfy Nasdaq’s minimal bid worth necessities and resulted in proportionate changes to the agency’s inventory choices, warrants, and convertible securities.

SOL Strategies rebranded from Cypherpunk Holdings in September 2024, shifting its focus totally to Solana, a blockchain recognized for high transaction speeds and low prices.

Since then, the agency has intensified its Solana acquisition technique, reporting 254,380 SOL staked by mid-2025, roughly half of which got here from third-party delegators.

By June 2025, filings revealed that the company held over 420,000 SOL, positioning it as one of many extra distinguished institutional holders of Solana’s native token.

Nasdaq Approval Strengthens SOL Strategies’ Role in Solana’s Institutional Growth

The firm presently has 22 million frequent shares excellent, alongside 12 million warrants and 5.3 million inventory choices. Following the consolidation, the capital construction stays lively, with potential for additional enlargement as investor demand grows underneath a U.S. itemizing.

As a Canadian-domiciled agency, SOL Strategies qualifies as a “international personal issuer” underneath SEC guidelines. This standing exempts it from sure U.S. regulatory necessities, comparable to proxy solicitation guidelines and Section 16 filings.

The firm plans to proceed working underneath Canadian governance requirements, which don’t require a majority of unbiased administrators or separate nominating and compensation committees.

The Nasdaq debut is predicted to speed up validator development by institutional partnerships, improve operational scalability as demand for Solana staking rises, and strengthen the corporate’s place as an institutional gateway to the Solana ecosystem.

SOL Strategies first filed its Nasdaq application in December 2024, submitting a registration assertion with the SEC. The Listing Qualifications Department of Nasdaq then started reviewing the applying for compliance with change requirements.

The firm framed the applying as a key step in attracting institutional capital and broadening its attain into U.S. markets.

With approval now secured, the corporate is ready to open buying and selling on one of many world’s most distinguished exchanges, providing U.S. buyers regulated publicity to Solana infrastructure for the primary time.

SOL Strategies Emerges as Key Gateway for Institutional Solana Holdings

SOL Strategies reported a milestone in August with over C$1 billion worth of Solana delegated to its validators.

As of Aug. 31, the corporate managed 3.62 million SOL underneath delegation, together with 402,623 SOL from its personal treasury, valued at about C$111.7 million.

A file 8,812 distinctive wallets at the moment are staking with the agency, displaying rising retail and institutional participation in its validator operations.

CEO Leah Wald stated the achievement displays “the growing scale of our operations and confidence in Solana’s ecosystem.”

The firm additionally superior open-source failover know-how and is taking part in upcoming Solana upgrades, together with SIMD-326 (Alpenglow consensus) and the Block Auction Marketplace.

Partnership development remained central. The firm’s white-label validator service for Solana Mobile’s Seeker gadget attracted greater than 3,200 wallets inside a month of launch, regardless of gadgets not but reaching many of the 150,000 pre-order clients.

Meanwhile, Cathie Wood’s ARK Invest moved 3.6 million SOL, price roughly C$888 million, to SOL Strategies’ infrastructure in July, calling it a validation of the agency’s institutional capabilities.

Elsewhere, main gamers are committing billions towards Solana reserves. Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly raising $1 billion to establish a corporate treasury vehicle, whereas Sharps Technology announced a $400 million financing to construct what it described because the world’s largest Solana treasury.

DeFi Development Corp. has also doubled its holdings to more than 2 million SOL following recent purchases.

The developments place SOL Strategies as one of many main institutional gateways to Solana, with 8.887 million SOL now held through public entities, representing almost 1.55% of the token’s circulating provide.

The submit SOL Strategies Takes Wall Street: First SOL-Focused Firm Wins Nasdaq Listing Approval appeared first on Cryptonews.

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