SOL Strategies, a Canadian-based Solana infrastructure company, launched its shares on Nasdaq last week, expanding its investor reach beyond Canadian and OTC markets. Despite a 43% drop from its debut price by week’s end, CEO Leah Wald views the firm’s ‘underdog’ status as an advantage, allowing focused growth without hype distractions. The company operates a validator business with 3.6 million SOL delegated ($820M+) and holds over 435,000 SOL ($100M) in its treasury, earning ~8% yield from both streams. Wald positions SOL Strategies as a ‘digital assets treasury++’, emphasizing the alignment between its treasury and validator operations as key differentiators in the crowded crypto market.
about SOL Strategies Debuts on Nasdaq as Solana UnderdogLeah Wald
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Solana Treasury Firms Drive Institutional ETF Adoption
In a recent interview, SOL Strategies CEO Leah Wald outlined the strategic role of Solana-focused digital asset treasury (DAT) companies in driving institutional adoption and potential ETF inflows. She drew parallels to Bitcoin miners benefiting from ETF approvals, suggesting similar dynamics could boost Solana-centric firms. Wald highlighted expectations for a spot or staked Solana ETF by October, noting institutional preference for ETFs due to tax and custody advantages. Despite current discounts to NAV for some DAT companies, Wald expressed confidence in SOL Strategies’ hybrid model as both a technology developer and treasury accumulator. She emphasized Solana’s growing institutional validation, citing BlackRock’s planned yield fund and existing tokenization efforts by Apollo and Franklin Templeton, while positioning treasury firms as educational ambassadors for broader adoption.
about Solana Treasury Firms Drive Institutional ETF AdoptionSolana Firm SOL Strategies Debuts on Nasdaq as STKE
Canadian firm SOL Strategies, a major Solana holder and validator, debuted on Nasdaq September 9, 2025 under ticker STKE. The listing validates Solana’s infrastructure for institutional investors, potentially increasing capital inflows and Total Value Locked in Solana DeFi. SOL’s price surged past $219 following the news, with market cap reaching ~$119B. The article highlights Snorter Token ($SNORT) as a beneficiary, currently in presale with $3.82M raised. SOL Strategies holds 435,064 SOL tokens worth ~$95.4M, positioning it as the third-largest institutional Solana holder globally. The Nasdaq listing meets high transparency and governance standards, improving access to U.S. capital markets for scaling operations.
about Solana Firm SOL Strategies Debuts on Nasdaq as STKESOL Strategies Approved for Nasdaq Listing Under Ticker STKE
SOL Strategies, a publicly traded Solana treasury and infrastructure company, has secured approval to list on the Nasdaq Exchange under the ticker STKE beginning September 9. The move will see the firm transition from the OTCQB Venture Market while maintaining its Canadian Securities Exchange listing as HODL. CEO Leah Wald emphasized that the Nasdaq listing aligns the company with leading technology firms and aims to attract institutional investors recognizing Solana’s potential. The firm holds 435,064 SOL (worth approximately $89 million) in its treasury, ranking third among publicly traded SOL treasuries. SOL Strategies reported strong growth with quarterly annualized revenue reaching $8.7 million USD in Q2 2024, up from $3.5 million in Q4 2023.
about SOL Strategies Approved for Nasdaq Listing Under Ticker STKESolana Treasury Firm SOL Strategies Lists on Nasdaq
SOL Strategies, formerly Cypherpunk Holdings, has secured Nasdaq listing approval for its common shares, transitioning from OTCQB to trade under ticker STKE while maintaining its Canadian listing. The company rebranded and shifted to a Solana-first investment strategy in July 2024, accelerating accumulation of SOL tokens and ecosystem investments under new CEO Leah Wald. This listing enhances liquidity for shareholders and provides access to deeper capital markets, aligning with growing institutional interest in Solana exposure. The approval comes as major firms like Galaxy Digital and Multicoin Capital seek to assemble a $1 billion SOL treasury, highlighting increasing institutional demand for Solana infrastructure investments through public vehicles.
about Solana Treasury Firm SOL Strategies Lists on NasdaqBitcoin Could Hit $175K by Year-End, Says SOL Strategies CEO
Leah Wald, CEO of SOL Strategies, remains bullish on Bitcoin despite recent volatility, forecasting a potential rise to $175,000 by year-end. She attributes this optimism to increased institutional involvement from firms like BlackRock and influential investors such as Cathie Wood, alongside supportive comments from financial leaders like Larry Fink. Wald notes that the crypto industry is recovering from the FTX collapse, with banks and asset managers reopening doors to crypto investments, facilitating larger capital inflows. While acknowledging risks, she highlights a shift from short-term trading to blockchain-based infrastructure development, driven by nation-state adoption and institutional custody services. Long-term projections even suggest Bitcoin could reach $1 million by 2030, fueled by adoption trends and limited supply.
about Bitcoin Could Hit $175K by Year-End, Says SOL Strategies CEOSol Strategies Files for Nasdaq Listing with $72M SOL Holdings
Sol Strategies Inc. has filed registration papers with the SEC to list its shares on Nasdaq under the ticker ‘STKE,’ marking a significant step for the Canadian firm with over 420,000 SOL ($72M) on its balance sheet. The company, already listed on the Canadian Securities Exchange, aims to expand its institutional footprint in the Solana ecosystem through validator operations and token accumulation. Sol Strategies secured a $500M convertible note and filed a $1B shelf prospectus in Canada, positioning itself alongside other public crypto treasury plays like DeFi Development Corp. Experts view the Nasdaq filing as a validation of Solana’s institutional appeal, though risks like market volatility and regulatory uncertainty remain. The firm’s validator-focused model is seen as a strategic bet on Solana’s long-term infrastructure growth.
about Sol Strategies Files for Nasdaq Listing with $72M SOL HoldingsSolana’s 1M TPS & US Digital Asset Stockpile Potential
Solana’s Firedancer validator client, developed by Jump Crypto, is achieving over one million transactions per second in tests, addressing scalability challenges and enhancing network stability ahead of its 2025 mainnet release. The altcoin is gaining institutional traction, with public companies like SOL Strategies converting treasury reserves to SOL and the US government considering its inclusion in a newly established Digital Asset Stockpile funded by seized crypto. While the SEC’s stance on memecoins complicates rug pull prosecutions, the potential for government-held SOL and corporate adoption signals a bullish technical and regulatory outlook for Solana’s ecosystem.
about Solana's 1M TPS & US Digital Asset Stockpile PotentialSolana Firms Signal Growth with $1B Prospectus & Liquid-Staked SOL
Solana-focused investment firm Sol Strategies has filed a preliminary base shelf prospectus for up to $1 billion, enabling future capital raises without immediate offerings. Concurrently, DeFi Development Corp. announced plans to adopt liquid-staked SOL for treasury operations, signaling deeper institutional engagement with Solana. CEO Leah Wald emphasized the flexibility this provides for capitalizing on emerging opportunities within the Solana ecosystem. These developments reflect growing institutional interest and strategic long-term planning in the blockchain sector, particularly around Solana’s infrastructure and DeFi innovations.
about Solana Firms Signal Growth with $1B Prospectus & Liquid-Staked SOLSOL Strategies Files $1B Shelf Prospectus for Solana Growth
SOL Strategies, a publicly traded Canadian company specializing in Solana blockchain investments, has submitted a $1 billion preliminary base shelf prospectus to Canadian regulators. This filing allows the firm to issue various securities—such as shares, debt, or warrants—over time, providing flexibility to fund Solana-related opportunities as they arise. While no immediate offerings are planned, the move follows SOL Strategies’ recent $500 million convertible note to expand its Solana holdings. CEO Leah Wald emphasized the strategic advantage of being ‘ready to act decisively’ in the fast-evolving crypto market. Solana, currently the sixth-largest cryptocurrency by market cap ($89.8B), trades at $172.29 amid slight daily declines.
about SOL Strategies Files $1B Shelf Prospectus for Solana Growth