SOL Strategies, a firm focused on Solana assets, has filed an application with the U.S. SEC seeking permission to trade on Nasdaq.
Details of SOL Strategies' Application
SOL Strategies has filed with the SEC to trade shares under the ticker 'STKE' on Nasdaq. Previously, the company's stock traded under a different ticker on the Canadian exchange and OTCQB. The Form 40-F registration filed on June 19, 2025, is now awaiting SEC approval, marking the company's first entry into the U.S. market.
Market Response and Impact on SOL
Following the news of the application, shares of SOL Strategies increased by 4.3%. However, the price of Solana saw minimal change, rising only 0.3% in the hour following the announcement. Currently, Solana is trading at $146.38, down 1.62% from recent figures.
SOL Strategies' Holdings and Strategy
SOL Strategies recently acquired 26,478 SOL for $4.7 million, bringing the total holdings to 420,355 SOL. The firm plans to utilize the capital primarily to increase its SOL holdings and support validator operations. Previously known as Cypherpunk Holdings Inc., SOL Strategies shifted its focus from Bitcoin to Solana in late October 2024.
The move to seek trading on Nasdaq presents new opportunities for SOL Strategies, potentially enhancing its market presence and increasing its Solana assets.
