Sol Strategies Files for NASDAQ Listing With U.S. SEC

Canadian Solana treasury company, Sol Strategies, has recently filed an application with the United States Securities and Exchange Commission (SEC) to list on NASDAQ. The company intends to trade on the stock exchange under the ticker symbol STKE.

Sol Strategies to Trade on NASDAQ 

On June 19, Sol Strategies submitted a Form 40-F filing to the SEC. Notably, Canadian companies seeking to enter the U.S. market must file a Form 40-F document with the regulator before listing their stocks on U.S. exchanges.

Sol Strategies is currently listed on the Canadian Securities Exchange (CSE) and trades under the ticker symbol HODL. The latest filing with the SEC marks the Ontario-based firm’s first attempt to enter the U.S. market.

The filing is currently awaiting approval from the SEC. Once approved, the listing will grant Sol Strategies exposure to U.S.-based investors, allowing it to capitalize on the country’s growing pro-crypto stance.

Following the SEC filing, Sol Strategies saw its stock surge by over 4.39%. According to data from Google Finance, HODL soared to 2.42 Canadian dollars ($1.76) before closing at 2.38 CAD ($1.73).

Strategic SOL Acquisition

Since transitioning from bitcoin treasury to Solana, Sol Strategies has remained committed to investing in and providing infrastructure for the Solana ecosystem. The company operates as a Solana validator and uses SOL as its primary treasury reserve asset.

Mirroring Strategy’s commitment to its BTC acquisition plan, the company has consistently added more SOL to its portfolio. It recently acquired $18.25 million worth of SOL as part of its $500 million financing plan. As of June 2, Sol Strategies has accumulated 420,000 SOL, valued at approximately $61.7 million.

The company is seeking to leverage Solana network’s high transaction speed and low cost to boost its influence as a validator and increase its earnings. Sol Strategies is constantly expanding its node validator operations while accumulating more of the digital asset.

Notably, institutional interest in SOL has increased over the past few months. Several institutional investors are adopting a strategic SOL reserve, especially as the race for a SOL ETF heats up. DeFi Development Corp. recently raised $5 billion to increase its SOL holdings.

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