SOL Strategies has received approval to list its shares on the NASDAQ under the ticker “STKE,” with trading expected to begin on September 9.
The company, which reshaped its identity in September 2024 after being known as “Cypherpunk Holdings,” became the first treasury company in the Solana ecosystem.
Although its shares are currently only traded in Canada, its net assets have outperformed three new American “Solana DATs” (i.e., companies that have Solana cryptocurrency in their treasury).
Last summer, “Leah Wald” – the former CEO of “Valkyrie” – took over leadership of the company and restructured it to become “Solana DAT,” before this model spread across the U.S. markets.
“SOL Strategies” focuses specifically on betting within the Solana network, having acquired contract validators from “Orangefin Ventures,” “Cogent Crypto,” and “Laine,” and launched dedicated projects such as the validator for “Pudgy Penguins” and the “Solana Mobile” network.
Although the company recorded a 900% increase in its stock over the year, its holdings of about 90 million dollars in SOL place it behind the top three “Solana DATs,” whose assets range from 380 to 420 million dollars, partly due to its absence from the U.S. 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 the NASDAQ, joining its competitors, except for “BIT Mining,” which remains listed on the New York Stock Exchange.
“Leah Wald” considered this move as demonstrating the company’s commitment to institutional standards and proving Solana's position in both the crypto world and traditional financial markets.
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