SOL Strategies, a publicly traded Solana treasury and infrastructure firm, has received approval to list its common shares on the Nasdaq Exchange and plans to begin trading under the ticker STKE on September 9. The company will continue to trade on the Canadian Securities Exchange as HODL; shares on the OTCQB will be converted automatically to the Nasdaq listing.
The move aims to broaden the company’s investor base and deepen access to capital markets. “For SOL Strategies, the listing opens up deeper capital markets, greater institutional visibility, and new partnership opportunities,” President and CEO Leah Wald said. She added that the Nasdaq presence should bring enhanced liquidity and credibility for shareholders.
The official Nasdaq listing remains conditional on meeting listing and regulatory requirements and on the firm’s effective registration of common shares with the SEC.
On the crypto side, SOL Strategies’ on-chain holdings include 435,064 SOL (about $89 million at the time of the announcement) and validators that have accumulated more than 3 million staked SOL (roughly $741 million). That $89 million Solana treasury ranks the firm third among publicly traded SOL treasuries, according to CoinGecko data, behind Upexi and DeFi Development Corp.
Market reaction was immediate: HODL shares on the Canadian exchange rose nearly 20% to CAD $10.21 (about $7.37). The company also reported quarterly annualized revenue of approximately $8.7 million in Q2, up from about $3.5 million in the final quarter of 2024.
Why this matters: a Nasdaq listing could accelerate institutional interest in SOL Strategies’ validator operations and broaden access to the company for U.S. investors. Investors should note, however, that listings and crypto assets carry regulatory and market risks — approvals are not guaranteed and both stock and token values can be volatile.
Source: Decrypt. Read the original coverage for full details.
Editor’s note: This story was updated after publication to add quotes from Leah Wald.
