The company "SOL Strategies" has received approval to list its shares on the NASDAQ under the ticker "STKE", and trading is expected to begin on September 9.
The company, which rebranded in September 2024 after being known as "Cypherpunk Holdings", became the first treasury company in the Solana ecosystem.
Although its shares are currently traded only in Canada, its net assets have surpassed those of three new American companies "Solana DATs" (i.e., companies that have Solana digital currency in their treasury).
Last summer, Lia Wald – the former CEO of Valkyrie – took over the company and restructured it to become Solana DAT, before this model spread in the American markets.
SOL Strategies focuses particularly on staking within the Solana network, having acquired contract validators from Orangefin Ventures, Cogent Crypto, and Laine, as well as launching dedicated projects such as the Pudgy Penguins validator and the Solana Mobile network.
Although the company recorded a 900% increase in its stock over the year, its holdings of approximately 90 million dollars in SOL place it behind the top three Solana DAT companies, whose assets range between 380 and 420 million dollars, partly due to its absence from the American market so far.
After submitting the listing application in December 2024, the company underwent preliminary procedures that included a reverse stock split of 8 to 1 last August.
With this listing, SOL Strategies becomes the latest Solana DAT company listed on NASDAQ, joining its competitors, except for BIT Mining, which remains listed on the New York Stock Exchange.
Lia Wald considered that this step demonstrates the company's commitment to institutional standards and solidifies Solana's position in both the crypto world and traditional financial markets.
