SOL Strategies, a Canadian-based company, manages 3.6 million Solana valued at $820 million and is actively generating income through staking operations.
Shift to Active Yield
SOL Strategies has staked 3.6 million Solana as a significant step toward active income generation. The firm also holds an additional 435,000 SOL in its treasury. Following its Nasdaq listing under the ticker STKE, the company expanded its investor base, previously trading under 'HODL' on the Canadian Securities Exchange.
Staking Strengthens Solana's Network
From its validator operations, SOL Strategies earns around 8% yield on delegated assets. As of its August update, assets under delegation exceeded $820 million, allowing the firm to achieve double annualized revenue in the second quarter compared to the previous fourth quarter. Major institutions, including ARK Invest, have selected SOL Strategies as a staking provider.
Rebranding and Growth in Institutional Demand
In September 2024, the company rebranded from Cypherpunk Holdings to SOL Strategies to align with Solana’s growth. Prior to the rebranding, it sold Bitcoin holdings and shares of Animoca Brands to increase its Solana reserves. CEO Leah Wald noted her increased optimism about Solana, citing developer activity as a driver of long-term growth.
SOL Strategies demonstrates an updated strategy in managing its assets in Solana, solidifying its position amidst the growing institutional interest in staking.
