SOL Strategies Secures Nasdaq Listing as Solana Demand Rises
Canadian blockchain firm SOL Strategies will list on the Nasdaq Global Select Market on September 9. It will trade under the ticker STKE.
Quick overview
- SOL Strategies will list on the Nasdaq Global Select Market under the ticker STKE on September 9, transitioning from the OTCQB Venture Market.
- The automatic conversion of shares for OTCQB shareholders aims to enhance liquidity and market access for investors.
- The firm, formerly known as Cypherpunk Holdings, has focused on Solana since its rebranding in 2024 and now holds a significant Solana treasury.
- Institutional interest in Solana is rising, with several firms planning to expand their holdings and a positive market reaction following the Nasdaq approval.
Canadian blockchain firm SOL Strategies will list on the Nasdaq Global Select Market on September 9. It will trade under the ticker STKE. The move shifts its shares away from the OTCQB Venture Market. Trading will continue on the Canadian Securities Exchange under HODL. The goal is more liquidity, stronger visibility, and deeper access to U.S. capital markets.
1/ 🚨Major Milestone Alert!
SOL Strategies approved for @NasdaqExchange Global Select Market listing under the ticker “STKE” and trading will commence on Tuesday, September 9, 2025!
As CEO Leah Wald noted: "This represents more than just an achievement for SOL Strategies, it's… pic.twitter.com/tEJ6uBQahR
— SOL Strategies (@solstrategies_) September 5, 2025
For OTCQB shareholders, the switch is automatic. Their shares will convert to Nasdaq without action. As a result, investors will gain better liquidity and a wider market. Furthermore, CEO Leah Wald said the listing opens doors to institutional investors and creates stronger opportunities for shareholders.
Shift to Solana
The firm was once Cypherpunk Holdings. It rebranded in 2024 to focus fully on Solana. The change followed Wald’s appointment as CEO. Since then, it has scaled validator operations and built its Solana treasury. By August 31, it held 435,064 SOL worth about $89 million. Its validators managed more than 3 million staked SOL worth about $741 million. Moreover, this makes it the third-largest public Solana treasury, behind Upexi and DeFi Development Corp.
Meanwhile, Solana itself is upgrading. On Tuesday, the network approved the Alpenglow consensus protocol. The upgrade will cut transaction finality times to near-instant levels. In contrast to older systems, it aims to bring Web2-like speed with cryptographic security. As a result, the Solana Foundation expects new use cases that require both speed and certainty.
Institutional Interest is Rising in Solana
Institutions are also moving into Solana. DeFi Development Corp recently bought $39.76 million worth of SOL. This lifted its holdings to 2 million tokens. Additionally, Galaxy Digital, Multicoin Capital, and Jump Crypto are working with Cantor Fitzgerald on a plan to build a $1 billion Solana treasury through a public company vehicle.
Other public firms also hold Solana, including Upexi with over $100 million and DeFi Development Corp with 846,000 SOL. Moreover, many plan to grow these holdings further through staking yields.
Markets reacted to the Nasdaq approval. SOL Strategies shares on the Canadian Securities Exchange jumped about 20% on Friday. In contrast, Solana’s token stayed near $204. The firm still reported a $3.5 million net loss for the second quarter of 2025. Yet investor sentiment improved after the listing news.
SOL Strategies has a market cap of around $167 million. Its validator-driven model recently passed CAD $1 billion in delegated assets. It also reached a record 7,068 unique wallets staking to its validators.
The company plans to celebrate the Nasdaq debut with a virtual bell-ringing event open to the Solana community. Instead of treating this as symbolic, Wald said it proves blockchain firms can compete on major financial markets.
In her words, the approval reflects trust from institutional and retail delegators. As a result, SOL Strategies sees itself as a bridge between traditional investors and the Solana ecosystem. The final question is whether Wall Street will respond with the same enthusiasm already seen within crypto.
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