In brief
- SOL Strategies received approval to list its common shares on the Nasdaq Exchange.
- The firm intends to trade under ticker STKE starting on September 9.
- Shares of the firm were up nearly 20% on the Canadian Stock Exchange on Friday.
Publicly traded Solana treasury and infrastructure company SOL Strategies received approval to list its common shares on the American-based Nasdaq Exchange, the firm announced on Friday.
The Canadian firm expects to begin trading on the Nasdaq on September 9 with the ticker STKE. It will continue trading on the Canadian Securities Exchange as HODL, but no longer trade on the OTCQB Venture Market. OCTQB shareholders will automatically have their shares converted to the Nasdaq listing.
“For SOL Strategies, the listing opens up deeper capital markets, greater institutional visibility, and new partnership opportunities that simply aren’t accessible on other exchanges,” SOL Strategies President and CEO Leah Wald told Decrypt. “For shareholders, it brings enhanced liquidity, broader investor participation, and the credibility that comes with being in Nasdaq’s orbit. We are expanding access and creating a stronger platform for shareholders with real long-term value.”
The official Nasdaq listing remains subject to listing and regulatory requirements, and the firm’s effective registration of common shares with the SEC.
Upon listing, the firm anticipates that it will accelerate growth of its Solana validator operations as it builds institutional interest.
As of August 31, SOL Strategies has accumulated 435,064 SOL, worth around $89 million at the time of writing. Additionally, its validators have amassed more than 3 million staked SOL, worth around $741 million.
The $89 million in its Solana treasury places it third among publicly traded SOL treasuries, according to data gathered by CoinGecko. It trails only Upexi and DeFi Development Corp, each of which holds around $400 million worth of Solana.
Shares of HODL on the Canadian Stock Exchange traded up nearly 20% on the day to $10.21 CAD, or around $7.37.
The firm reported a quarterly annualized revenue growth to around $8.7 million USD in Q2, up from around $3.5 million in the final quarter of 2024, according to a recent investor presentation.
“Earning this listing places SOL Strategies on the same global stage as some of the most innovative public companies,” Wald told Decrypt. “For us, it’s about proving to the market that we’re here to join the fray and fight for a top seat in the public markets.”
Editor’s note: This story was updated after publication to add quotes from Wald.
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Source: https://decrypt.co/338337/solana-treasury-company-sol-strategies-begin-trading-nasdaq
