Solana News Today: Solana’s Big Leap: Institutional Gateways Now Trade on Nasdaq

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. Trading is set to begin on Sept. 9 under the ticker symbol STKE, marking a significant step in the firm's strategy to expand institutional engagement with Solana. The company, previously listed on the U.S. over-the-counter (OTC) market as CYFRF and the Canadian Securities Exchange (CSE) under the ticker HODL, will delist from the OTC market, with OTC shareholders automatically converted to Nasdaq-listed shares. The company’s shares will continue to trade on the CSE but will no longer be available on the OTC.

As of Aug. 31, 2025, SOL Strategies held 435,064 Solana (SOL) tokens, valued at approximately CAD$122 million. The firm began aggressively acquiring SOL in the second quarter of 2024 following a strategic pivot and has positioned itself as a leading institutional gateway to Solana staking and infrastructure. The Nasdaq listing is expected to enhance the firm’s visibility with institutional investors, improve liquidity for its shareholders, and expand access to capital markets. CEO Leah Wald emphasized that the move is not only beneficial for the firm but also serves as “validation for the entire Solana ecosystem.”

SOL Strategies previously raised $500 million in convertible notes in April 2025 to further its investment in Solana tokens. The firm reported a net loss of $3.5 million for the second quarter of 2025, despite experiencing a surge in staking and validating revenue. SOL Strategies’ share price on the CSE rose nearly 20% following the Nasdaq listing announcement, reflecting investor optimism around the firm’s strategic direction.

The listing is expected to accelerate validator growth and support operational scalability as demand for Solana staking continues to rise. SOL Strategies also highlighted its role in bringing institutional capital into the network, emphasizing its commitment to expanding Solana’s infrastructure and ecosystem. The firm’s strategic pivot and significant token holdings underscore its belief in Solana’s long-term potential as a high-performance blockchain platform.

Meanwhile, the broader Solana ecosystem is undergoing key developments. On Sept. 2, 2025, the network announced an upgrade to the Alpenglow consensus protocol, which will significantly reduce transaction finality and enhance operational efficiency. This upgrade is anticipated to support Solana’s ambitions to offer Web2-level responsiveness while maintaining cryptographic certainty. Institutional interest in Solana is further reflected by DeFi Development Corp.’s recent acquisition of $39.76 million worth of SOL tokens, increasing its total holdings to 2 million tokens.

The growing institutional backing of Solana highlights the network’s appeal as a high-throughput, low-cost blockchain. Analysts have identified key resistance levels for the SOL token around $205 to $215, with potential for the price to surge toward $300 if these thresholds are breached. As Solana’s technical advancements and institutional adoption continue to gain traction, the Nasdaq listing of SOL Strategies represents a pivotal moment in the blockchain’s journey toward mainstream financial integration.

Source: [1] SOL Strategies Wins Nasdaq Listing, Shares to Trade (https://www.coindesk.com/business/2025/09/05/sol-strategies-wins-nasdaq-listing-shares-to-trade-under-stke) [2] Nasdaq approves SOL Strategies listing for next week (https://cointelegraph.com/news/nasdaq-sol-strategies-listing-shares) [3] Solana Charts a Bold Path Forward in Cryptocurrency (https://www.onesafe.io/blog/solana-roadmap-institutional-engagement)