Solana News Today: Solana's Rise Gets Institutional Boost as First-Ever Solana Treasury Firm Hits Nasdaq

SOL Strategies Gains Nasdaq Approval to List Shares and Expand Institutional Access as Solana Price Holds Above $204

SOL Strategies Inc., a Toronto-based digital asset company focused on the Solana blockchain ecosystem, has secured approval from Nasdaq to list its common shares on the Nasdaq Global Select Market. Trading is set to begin on September 9, 2025, under the ticker symbol "STKE." The company, previously known as Cypherpunk Holdings, will maintain its existing listing on the Canadian Securities Exchange (CSE) under the symbol "HODL" while delisting from the U.S. over-the-counter (OTC) market where it previously traded as "CYFRF." Holders of OTC shares will automatically convert to the Nasdaq listing without requiring any action [1].

As of August 31, 2025, SOL Strategies held 435,064 Solana (SOL) tokens, valued at approximately CAD $122 million. The company has positioned itself as a key institutional gateway into Solana staking and infrastructure, with a strategic pivot to Solana in the second quarter of 2024. CEO Leah Wald emphasized the listing’s significance, noting that it enhances liquidity for shareholders and provides access to deeper capital markets for the company’s validator operations and ecosystem investments [2].

The Nasdaq listing is expected to accelerate validator growth, support operational scalability as Solana staking demand rises, and strengthen SOL Strategies' role in channeling institutional capital into the Solana network. According to the company, this milestone also represents validation for the broader Solana ecosystem [3].

In parallel, Solana's price performance has drawn significant attention. As of late August 2025, the price of Solana had rebounded more than 36% from a low of $155, reaching an intraday high of $210. Technical indicators, including bullish chart patterns and increasing open interest, have suggested potential for further gains. Solana’s open interest in futures markets reached a record high of $13.68 billion, signaling heightened speculative interest [4].

The Alpenglow upgrade, recently approved with 98.27% support, has further enhanced Solana’s capabilities by reducing transaction finality to 150 milliseconds and increasing throughput to 107,540 transactions per second. This upgrade positions Solana to compete more effectively with Ethereum and other blockchain platforms, particularly in the decentralized finance (DeFi) and decentralized application (DApp) sectors [4].

Institutional adoption is also on the rise, with DeFi Development Corp. expanding its Solana holdings to over 2 million tokens, valued at approximately $409 million. Such developments underscore growing institutional confidence in Solana’s long-term potential [4].

SOL Strategies has secured significant funding capacity, including a $500 million convertible note facility and plans to raise up to $1 billion CAD through a preliminary base shelf prospectus. The company’s shares have demonstrated exceptional performance on the CSE, surging over 1,775% in the past 12 months, which has contributed to its recognition as one of the best-performing crypto stocks in 2025 [3].

The company’s transition to Nasdaq is anticipated to enhance liquidity and provide access to broader capital markets, facilitating the continued scaling of its validator operations. With a strong balance of direct SOL token acquisition, validator node operations for staking rewards, and strategic investments within the Solana ecosystem, SOL Strategies is well-positioned to capitalize on the growing institutional interest in the blockchain sector [3].

The approval of eight U.S. ETF applications for Solana, as highlighted by analyst James Seyffart, further reflects the asset’s increasing prominence in the institutional investment landscape. In Canada, the launch of Solana ETFs in mid-2025 has seen strong inflows and performance, with the 3iQ Solana Staking ETF (SOLQ) and Purpose Solana ETF (SOLL) attracting significant investor interest [6].

In conclusion, the Nasdaq listing of SOL Strategies marks a pivotal step in the institutionalization of the Solana ecosystem. As the first Solana-focused treasury company to achieve this milestone, the firm is poised to play a critical role in facilitating the flow of institutional capital into Solana staking and infrastructure. With the price of Solana maintaining a strong position above $204, and both technical and fundamental factors supporting its growth trajectory, the future of Solana and its ecosystem appears increasingly promising.

Source:

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

[2] title2 (https://solstrategies.io/nasdaq-approves-sol-strategies-global-select-market-listing/)

[3] title3 (https://finance.yahoo.com/news/sol-strategies-secures-nasdaq-approval-230844511.html)

[4] title4 (https://cointelegraph.com/news/solana-charts-1000-sol-price-target-open-interest-all-time-highs)

[5] title5 (https://www.coinbase.com/en-gb/price/solana)

[6] title6 (https://www.theglobeandmail.com/investing/markets/stocks/TCSB-T/pressreleases/34540005/why-solana-etfs-are-booming-in-canada-this-year/)