SOL Strategies secures Nasdaq approval as institutional giants plan billion-dollar Solana treasury
Solana (SOL) treasury firm SOL Strategies secured approval to checklist its widespread shares on the Nasdaq, in line with a Sept. 5 announcement.
The firm expects buying and selling to start on Sept. 9, below the ticker image “STKE” whereas sustaining its Canadian Securities Exchange itemizing below “HODL.”
Shares will now not commerce on the OTCQB Venture Market, and current shareholders will likely be routinely transformed to the Nasdaq itemizing with out requiring any motion.
CEO Leah Wald stated:
“Joining Nasdaq aligns us with the world’s most modern expertise corporations and positions us to draw institutional buyers who acknowledge the transformative potential of Solana’s infrastructure.”
She added that the itemizing supplies shareholders with enhanced liquidity, whereas giving the agency entry to deeper capital markets.
SOL Strategies accomplished its transformation from a diversified crypto holding firm to a Solana-first funding car after unanimously approving the technique shift at its shareholder assembly on July 30, 2024.
The rebranding coincided with the appointment of Wald as new CEO in early July, which accelerated the corporate’s accumulation of SOL tokens and ecosystem investments.
The inexperienced mild marks a big milestone for the Toronto-based firm following its strategic rebrand from Cypherpunk Holdings and pivot to Solana-focused investments.
Institutional curiosity in Solana treasuries grows
The approval arrives amid broader institutional curiosity in Solana publicity, with Galaxy Digital, Multicoin Capital, and Jump Crypto reportedly looking for approximately $1 billion to assemble the most important devoted SOL treasury by means of a public firm car.
Cantor Fitzgerald serves as lead banker for the hassle, which contemplates buying a listed entity to create an institutional-grade Solana treasury.
Other corporations additionally function SOL treasuries by means of public markets, together with Upexi, which has holdings surpassing $100 million, and DeFi Development Corp, reporting 846,000 SOL with plans to compound by way of staking yields.
SOL Strategies expects the Nasdaq itemizing to speed up validator progress by means of institutional partnerships, improve operational scalability as demand for Solana staking will increase, and strengthen its place as the main institutional gateway to the Solana ecosystem.
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