SOL Strategies Listed on Nasdaq under Ticker $STKE
SOL Strategies has officially listed its shares on Nasdaq under the ticker STKE, marking a major milestone after nearly a year of restructuring and navigating legal processes.
The company was formerly Cypherpunk Holdings (based in Canada) and rebranded in 2024 under the leadership of Leah Wald (former CEO of Valkyrie).
Business Model & Operations:
• Transitioned from a passive treasury to a full validator operation on the Solana network.
• Acquired nodes from Orangefin, Cogent Crypto, and Laine.
• Runs validator infrastructure for Pudgy Penguins and Solana Mobile.
• Holds around $90 million in SOL, compared to over $380 million by the largest Solana-native DATs.
Benefits of Listing
1. Access to U.S. markets – removing the biggest barrier to growth.
2. Enhanced fundraising capability – attracting both institutional and retail investors.
3. Strengthened credibility – moving beyond its previously limited presence in Canada.
Ecosystem Impact:
• Nearly all Solana-native DATs are now listed on Nasdaq (except BIT Mining, which trades on NYSE).
• Sends a warning to traditional treasuries that only hold coins without staking.
• Reinforces the trend of Solana-native DATs leveraging staking to generate yield and deepen ecosystem integration.
