Sol Strategies files with SEC for potential Nasdaq listing under STKE

Solana-focused publicly traded firm Sol Strategies has filed with US regulators for a potential listing on Nasdaq. According to a Form 40-F submitted to the US Securities and Exchange Commission, the Canadian company is seeking approval to list its shares on the American exchange under the ticker symbol STKE. If approved, Sol Strategies would be trading on one of the world’s largest stock exchanges, home to more than 3,300 listed companies and a market capitalization exceeding $30 trillion. Sol Strategies is currently listed on the Canadian Securities Exchange under the ticker “HODL.” What is Sol Strategies? Based in Canada, Sol Strategies has positioned itself as a key player within the Solana ecosystem. The company is known for its focused strategy of acquiring, staking, and supporting the Solana blockchain network. In recent months, it has steadily accumulated SOL tokens as part of a long-term treasury reserve plan. As of June 2, the firm reported holding more than 420,000 SOL tokens, valued at approximately $61 million at the time. This accumulation was funded in part by a $500 million convertible note facility secured from ATW Partners. From this facility, the company has already drawn $20 million to purchase over 120,000 SOL tokens at an average price of around $149. Further, Sol Strategies also operates its own validators on the Solana blockchain, allowing it to earn staking rewards on its token holdings. Up to 85% of these rewards are used to pay interest on its convertible notes, creating a hybrid model that connects traditional capital markets with decentralised finance operations. Recently, Sol Strategies expanded its staking operations through a partnership with DigitalX Limited, an Australian blockchain firm. As a part of this partnership, DigitalX will stake its Solana holdings using BitGo’s custody platform, with Sol Strategies serving as the validator partner. Late last year, the company was added to the CSE 25 Index, which tracks the top 25 companies by market capitalization on the exchange following a sharp year-to-date performance at the time, with shares having surged over 2,100%. HODL price reacts After news of the SEC filing broke, the company’s stock rose 4.39% during Tuesday’s trading session, peaking at 2.42 Canadian dollars before closing at 2.38 Canadian dollars. Despite the uptick, the stock remains down 17% year-to-date and has dropped 61% from its all-time high of 6.1 Canadian dollars recorded in January 2025. Major crypto companies are going public Over the past few years, a growing number of crypto and blockchain companies have been going public. One of the biggest names to do so recently is Circle Internet Group, the company behind the USDC stablecoin. Circle captured Wall Street’s attention with a dramatically oversubscribed IPO in late May that saw overwhelming demand, prompting the company to raise $1.05 billion by offering 34 million shares at $31 apiece, well above its initial plan of 24 million shares at $24–$26. Investor demand sent Circle’s shares soaring on day one, with CRCL opening 124% above the IPO price at $69.50 and surging to $103.75, making it one of the strongest public listings in the digital asset space. As of press time, major crypto companies like BitGo and Kraken are also eyeing to hit the public markets. The post Sol Strategies files with SEC for potential Nasdaq listing under STKE appeared first on Invezz

Source: Invezz