Sol Strategies, a Solana treasury firm, has filed a Form 40-F with the US SEC, seeking approval to list on Nasdaq under the ticker STKE.
Canada-based Solana treasury firm - $SOL Strategies - has recently applied for Nasdaq listing with the US Securities and Exchange Commission (SEC).
The stock price of Sol Strategies, trading on the Canadian Securities Exchange under the ticker HODL, rose more than 4.2%, trading at $2.38. Currently, the firm already has 420,000 SOL in treasury, which is valued at $63 million at the current SOL price.
Solana Treasury Firm Eyes NASDAQ Listing
Sol Strategies filed Form 40-F with the US SEC on Wednesday, seeking regulatory approval from the securities regulator to trade under the ticker STKE on the Nasdaq exchange.
Listing on Nasdaq platform will give the company more visibility among global investors. In the future, the company may take a micro-strategy route with equity dilution and bond issuance, and divert the funds raised into acquiring more Solana (SOL).
A recent report from Cantor Fitzgerald suggested that corporates would be more interested in building a Solana treasury than a Bitcoin treasury or an Ethereum treasury.
This is because, with exposure to Solana, these firms have the opportunity to gain additional output through stacking.
Sol Strategies is actively growing its Solana ( $SOL ) holdings as part of a broader strategy to build its Solana treasury reserves.
Last month, on May 27, the company announced that it had submitted a prospectus to Canadian regulators, paving the way for a potential $1 billion holding stock issuance to further invest in the Solana ecosystem. In early April, Sol Strategies raised $500 million in convertible notes, which it used to purchase and stake SOL tokens.
Increased corporate rush for SOL
With the crypto regulatory environment becoming more favorable under the $TRUMP administration, more and more corporations are facilitating exposure to alternative asset classes, including Solana.
Earlier this month, Nasdaq-listed Class Over Holdings announced plans to raise $500 million to build its Solana Treasury. The ad tech firm has already signed a convertible note financing agreement to raise the funds.
Earlier this week, Hong Kong-based MemeStrategy became the first publicly listed company to announce a Solana reserve plan. The firm acquired 2,440 Solana (SOL) tokens for an investment of HKD 2.9 million. Spot Solana ETFs have struggled to improve in the recent rush market.