Solana News Today: Solana's Leap to Wall Street: A Blockchain Milestone

SOL Strategies Inc., a Canadian blockchain infrastructure firm focused on Solana, has received regulatory approval to list its shares on the Nasdaq Global Select Market, marking the first U.S. listing for a company dedicated exclusively to Solana infrastructure. Trading is slated to begin on September 9, 2025, under the ticker symbol STKE, subject to the effectiveness of the company’s Form 40-F registration statement with the U.S. Securities and Exchange Commission. Until then, its shares will continue trading on the Canadian Securities Exchange (CSE) under the symbol HODL and on the OTCQB Venture Market under CYFRF. Shareholders on the OTCQB will not need to take any action, as their holdings will automatically convert to the Nasdaq listing.

SOL Strategies, previously known as Cypherpunk Holdings, rebranded in September 2024 and has since shifted its focus entirely to Solana, a high-performance blockchain known for fast transaction speeds and low costs. To meet Nasdaq listing requirements, the firm implemented a one-for-eight share consolidation in July 2025, reducing its total outstanding shares from approximately 176 million to 22 million. The consolidation also adjusted stock options, warrants, and convertible securities proportionately. The move aligns the company with the minimum bid price requirements for Nasdaq-listed companies.

The firm has significantly expanded its Solana-related operations, reporting 254,380 SOL staked by mid-2025, with roughly half of that amount sourced from third-party delegators. As of June 2025, filings indicated that the company held over 420,000 SOL, placing it among the largest institutional holders of Solana’s native token. By August 31, 2025, the firm had accumulated 435,064 SOL, valued at approximately $89 million, and its validators had staked over 3 million SOL, valued at around $741 million.

The Nasdaq listing is expected to enhance the firm’s visibility among institutional investors and provide greater liquidity for its shareholders. Leah Wald, CEO of SOL Strategies, emphasized that the listing reflects not only the company’s progress but also the broader institutional credibility of the Solana ecosystem. She noted that the move will enable the company to access deeper capital markets, scale its validator operations, and expand its ecosystem investments. Wald also highlighted the significance of the listing in demonstrating the growth potential of Solana-based infrastructure within regulated financial markets.

SOL Strategies anticipates that its Nasdaq listing will facilitate institutional partnerships and accelerate the growth of its validator network as demand for Solana staking increases. The firm has previously reported strong revenue growth, with annualized revenue in Q2 2025 reaching approximately $8.7 million, up from $3.5 million in the final quarter of 2024. The Canadian Stock Exchange listed HODL shares rose nearly 20% on the day of the announcement, trading at $10.21 CAD, or around $7.37.

The firm’s Solana treasury places it as the third-largest publicly traded entity holding Solana, behind Upexi and DeFi Development Corp, each of which holds around $400 million in Solana. This listing positions SOL Strategies as a key player in the institutional Solana space and highlights the growing interest in blockchain infrastructure among traditional financial markets.

Source:

[1] First SOL-Focused Firm Wins Nasdaq Listing Approval (https://finance.yahoo.com/news/sol-strategies-takes-wall-street-213259345.html)

[2] Nasdaq Approves SOL Strategies Global Select Market Listing (https://solstrategies.io/nasdaq-approves-sol-strategies-global-select-market-listing/)

[3] SOL Strategies secures Nasdaq listing under STKE (https://cryptobriefing.com/sol-strategies-nasdaq-stke-listing/)

[4] Solana Treasury Company SOL Strategies to Begin Trading (https://finance.yahoo.com/news/solana-treasury-company-sol-strategies-204608223.html)

[5] Solana Treasury Company SOL Strategies to Begin... (https://decrypt.co/?p=338337)