Jun 19, 06:30 AM

Sol Strategies Seeks Nasdaq Listing With $72 Million Solana Bet

Toronto-based Sol Strategies Inc. has submitted a Form 40-F registration statement to the U.S. Securities and Exchange Commission, seeking to list its shares on the Nasdaq Capital Market under the ticker “STKE.” The company, already quoted on the Canadian Securities Exchange, said the cross-border listing would give it greater access to U.S. investors and deepen liquidity. Sol Strategies has built its strategy around the Solana blockchain, holding roughly 420,000 SOL tokens—valued at about US$72 million—and operating several validator nodes. The firm positions itself as an institutional vehicle for exposure to the network, mirroring the treasury-focused approach that some publicly traded companies have taken with Bitcoin. As a foreign private issuer, Sol Strategies plans to continue following Canadian disclosure standards while benefiting from exemptions from certain U.S. reporting requirements. The Nasdaq filing follows the company’s April agreement for a US$500 million convertible note facility with New York-based ATW Partners and its May shelf prospectus in Canada that allows it to raise up to US$1 billion in future offerings. Shares of Sol Strategies rose about 4 percent in early trading after the announcement. The move underscores growing institutional interest in Solana-linked investment vehicles, even as the wider digital-asset market remains volatile and regulatory scrutiny of crypto-focused business models intensifies.