Sol Strategies Files for Nasdaq Listing Boosting Solana Market

Canadian investment firm Sol Strategies has filed with the U.S. Securities and Exchange Commission (SEC) to list its stock on the Nasdaq exchange. This move marks a significant milestone in the firm’s growth and its commitment to the Solana network. The company, currently trading under the ticker “HODL” on the Canadian Securities Exchange (CSE), has submitted a Form 40-F with the SEC, a necessary step for Canadian-domiciled companies seeking to list on major U.S. exchanges like Nasdaq. If approved, Sol Strategies would begin trading under the new ticker symbol “STKE,” placing it among over 3,300 companies already listed on Nasdaq. This potential uplisting could provide Sol Strategies with better access to institutional capital and significantly boost inflows into the Solana market.

The announcement has energized both investors and the Solana community. Despite a challenging year for its stock, Sol Strategies appears highly committed to its Solana treasury strategy. The firm has been accumulating SOL as a treasury asset and operating Solana validators, with current holdings of over 420,000 SOL tokens, worth more than $61 million. This accumulation is not merely speculative; the firm is also a Solana validator, contributing to network security while earning rewards through staking. In May, Sol Strategies filed a prospectus with Canadian regulators, indicating plans to raise up to $1 billion in future stock offerings. Earlier in April, the firm issued $500 million worth of convertible notes to purchase more SOL tokens. Sol Strategies’ confidence in Solana is echoed by institutional voices, with analysts highlighting the blockchain’s ability to handle up to 65,000 transactions per second and its cost-efficiency as key strengths.

The possibility of a Nasdaq listing comes at a time when SOL’s price has been relatively stable. As of mid-June 2025, the cryptocurrency is trading around $146.40. Technical indicators show that the cryptocurrency is trading within a neutral trend, with resistance near $170 and bullish targets around $190. Looking further ahead, analysts believe that if current trends continue, SOL could reach an average price of $325 by year-end. Some bullish scenarios even put its peak somewhere around $400. However, risks like regulatory changes or network issues could pull it back to $250. Sol Strategies’ continued buying and staking could offer indirect price support for SOL. If the firm attracts more institutional investors and retail traders by listing on Nasdaq, demand for Solana tokens might rise in parallel.