Publicly traded Solana treasury and infrastructure firm SOL Strategies obtained approval to checklist its frequent shares on the American-based Nasdaq Trade, the agency introduced on Friday.
The Canadian agency expects to start buying and selling on the Nasdaq on September 9 with the ticker STKE. It would proceed buying and selling on the Canadian Securities Trade as HODL, however now not commerce on the OTCQB Enterprise Market. OCTQB shareholders will mechanically have their shares transformed to the Nasdaq itemizing.
“For SOL Strategies, the itemizing opens up deeper capital markets, better institutional visibility, and new partnership alternatives that merely aren’t accessible on different exchanges,” SOL Strategies President and CEO Leah Wald informed Decrypt. “For shareholders, it brings enhanced liquidity, broader investor participation, and the credibility that comes with being in Nasdaq’s orbit. We’re increasing entry and making a stronger platform for shareholders with actual long-term worth.”
The official Nasdaq itemizing stays topic to itemizing and regulatory necessities, and the agency’s efficient registration of frequent shares with the SEC.
Upon itemizing, the agency anticipates that it’s going to speed up development of its Solana validator operations because it builds institutional curiosity.
As of August 31, SOL Strategies has accrued 435,064 SOL, price round $89 million on the time of writing. Moreover, its validators have amassed greater than 3 million staked SOL, price round $741 million.
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The $89 million in its Solana treasury locations it third among publicly traded SOL treasuries, in accordance to information gathered by CoinGecko. It trails solely Upexi and DeFi Improvement Corp, every of which holds round $400 million price of Solana.
Shares of HODL on the Canadian Inventory Trade traded up practically 20% on the day to $10.21 CAD, or round $7.37.
The agency reported a quarterly annualized revenue growth to around $8.7 million USD in Q2, up from round $3.5 million within the remaining quarter of 2024, in accordance to a recent investor presentation.
“Incomes this itemizing locations SOL Strategies on the identical world stage as among the most modern public firms,” Wald informed Decrypt. “For us, it’s about proving to the market that we’re right here to be a part of the fray and combat for a prime seat within the public markets.”
Editor’s notice: This story was up to date after publication to add quotes from Wald.
