Sol Strategies To Join Nasdaq, Intensifies Solana Treasury Accumulation

Canadian digital asset treasury firm Sol Strategies has taken a formal step toward entering U.S. equity markets, while expanding its Solana-based holdings and staking operations. At the same time, Solana price experienced a minor rise.

Sol Strategies Files to U.S. SEC for Nasdaq Listing

On June 19, SOL Strategies filed a Form 40-F registration with the U.S. Securities and Exchange Commission.

Notably, it is a mandatory requirement for Canadian companies that would like to list their securities in the U.S. The firm aims to trade on the Nasdaq Capital Market under the ticker symbol “STKE.” This would mark its first direct entry into American financial markets.

Previously, SOL Strategies traded under the ticker “HODL” on the Canadian Securities Exchange and “CYFRF” on the OTCQB in the U.S. over-the-counter market.

If approved, the Nasdaq listing could offer broader visibility and access to institutional investors based in the United States.

The company, headquartered in Ontario, has positioned itself as one of the few treasury firms focused entirely on Solana.

After the announcement, Sol Strategies’ stock jumped by 4.4% on June 19. Google finance data showed that its Canadian listing shifted to 2.28 against 2.38, indicating a 10-point increase in stock trading in a day.

Current Solana Holdings and Staking Operations

As of May 29, Sol Strategies reported holding a total of 420,355 SOL tokens. These include 269,258 SOL directly owned and 268,671 SOL actively staked through the firm’s validators.

The combined value of these holdings is subject to market fluctuations, but recent disclosures valued the most recent purchase at $4.7 million.

More so, the staking element addresses the long-term strategy of the firm, not only to accrue Solana but also to be able to engage in network security and validation.

Staking of the tokens also earns the company interest as well as boosting Solana proof-of-stake system.

Such stands leave Sol Strategies as one of the larger institutional holders of SOL, besides the foundations and ecosystem funds.

Moreover, the company started moving out of Bitcoin in late 2024 and did it fully in early 2025. The change of strategy was formally announced in a January 29 shareholder letter which confirmed Solana as the treasury model of the company in the future.

$500 Million Funding Deal with ATW Partners

In April 2025, Sol Strategies announced that it had secured a convertible note agreement worth up to $500 million with ATW Partners, a New York-based investment firm.

This funding is intended to support further accumulation of Solana tokens and bolster the company’s validator infrastructure.

Having capital injections, the firm can expand its exposure to Solana without an immediate decrease in equity ownership.

Convertible note structure has the advantage of flexibility in converting future debt into equity depending on the market conditions and performance milestones.

According to the agreement, the funds are also earmarked for expanding the company’s technology stack and validator operations. They are central to its staking revenue model.

Besides, this financing move reflects growing institutional interest in blockchain-native treasury strategies.

It also coincides with broader market trends in which digital asset firms seek traditional capital to increase their footprint within decentralized networks.

Solana Price Activity During Filing Period

Despite the Nasdaq filing and treasury growth, the native token SOL recorded minimal short-term price movement.

After the announcement, Solana price experienced a minor intraday increase of 0.3%, but the asset has continued to trade downward overall.

As of June 19, Solana was priced at $146.38, reflecting a 1.62% daily decrease. Over the past week, SOL has declined by approximately 9%, and its one-month performance shows a 13.6% drop.

Solana price current market capitalization is estimated at $77.2 billion, placing it among the top ten cryptocurrencies by market value.

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