Solana News Today:

SOL Strategies, a Toronto-based digital asset firm focused on the Solana blockchain, has received approval to list its common shares on the Nasdaq Global Select Market. The company announced on Sept. 5 that trading will begin on Sept. 9 under the ticker symbol STKE. This marks a pivotal development for the firm, which previously traded under the symbol CYFRF on the U.S. over-the-counter (OTC) market and as HODL on the Canadian Securities Exchange (CSE). Holders of OTC shares will automatically convert to the Nasdaq listing without requiring any action. The company’s shares will continue trading on the CSE but will no longer be listed on the OTCQB.

SOL Strategies’ share price on the CSE rose by approximately 8% in pre-market activity following the announcement. The company rebranded from Cypherpunk Holdings after a strategic pivot to Solana in the second quarter of 2024, during which it began acquiring Solana (SOL) tokens. As of August 31, 2025, the firm held 435,064 SOL tokens, valued at approximately CAD$122 million at the time. The company raised $500 million in convertible notes in April 2025 to fund its acquisition of additional SOL tokens. CEO Leah Wald emphasized that the Nasdaq listing will enhance liquidity for shareholders and increase visibility among institutional investors, while also providing access to deeper capital markets to scale validator operations and ecosystem investments.

The Nasdaq listing is expected to strengthen SOL Strategies' position as a leading institutional gateway into Solana staking and infrastructure. The firm anticipates that the move will accelerate validator growth, improve operational scalability, and increase institutional participation in the Solana network as staking demand rises. The listing also serves as a validation of the broader Solana ecosystem, according to Wald, who described it as aligning the firm with the world’s most innovative technology companies. The company reported a net loss of approximately $3.5 million in the second quarter of 2025, but staking and validating revenue surged during the same period.

In a parallel development, the Astana International Exchange (AIX), a financial hub in Kazakhstan, has launched the world’s first spot exchange-traded fund (ETF) focused on Solana with staking functionality. The Fonte Solana ETF, listed under the ticker SETF, allows investors to gain exposure to Solana without directly managing the digital asset. The fund stakes tokens to generate yield, with returns dependent on the Solana network’s inflation rate and total staked volume. This product reflects a growing trend of regulated, yield-generating digital asset investments and underscores the integration of blockchain technologies into traditional financial structures.

The Nasdaq listing and the emergence of the Solana-focused ETF highlight increasing institutional interest in Solana as a high-performance blockchain. The Solana network is also undergoing an upgrade to the Alpenglow consensus protocol, which aims to reduce transaction finality and enhance the network’s scalability. These developments collectively point to a broader shift in the cryptocurrency market toward institutional adoption and the creation of regulated financial products that cater to both traditional and digital investment strategies.

Source:

[1] title1 (https://www.coindesk.com/business/2025/09/05/sol-strategies-wins-nasdaq-listing-shares-to-trade-under-stke)

[2] title2 (https://finance.yahoo.com/news/sol-strategies-wins-nasdaq-listing-191929801.html)

[3] title3 (https://cointelegraph.com/news/nasdaq-sol-strategies-listing-shares)

[4] title4 (https://aix.kz/fonte-solana-etf-registered-on-aix/)

[5] title5 (https://solstrategies.io/nasdaq-approves-sol-strategies-global-select-market-listing/)