Sol Strategies, a Canada-based firm managing Solana assets, has submitted a filing to the U.S. SEC for Nasdaq listing approval.
Company Strategy and Assets
Sol Strategies has submitted Form 40-F to the SEC seeking approval to trade on Nasdaq under the ticker STKE. If approved, the firm aims to enhance its presence in international markets. Following the filing announcement, the stock, currently traded on the Canadian Securities Exchange under the ticker HODL, rose over 4.2%, reaching $2.38. Sol Strategies currently holds 420,000 SOL tokens, valued around $63 million at current rates.
Treasury Growth and Funding Plans
The company is increasing its Solana stockpiles through several financing projects, raising $500 million via convertible notes in April to acquire a stake in SOL. Recently, on May 27, Sol Strategies filed a prospectus with Canadian regulators intending to issue a possible $1 billion in their HOLD stock, which may be used to further finance Solana-based investments.
Corporate Interest in Solana
Publicly traded firms are showing increased interest in Solana treasuries. In October, Nasdaq-listed Classover announced intentions to develop Solana Treasury by raising half a billion dollars. Additionally, Hong Kong-listed Meme Strategy purchased 2,440 SOL tokens for HKD 2.9 million this week. These developments come amid growing expectations of the potential legalization of a spot Solana ETF, which could further enhance institutional activity.
Sol Strategies is actively pursuing investments in the Solana ecosystem and plans to expand its international market presence, potentially leading to further growth in this sector.
