Shares of SOL Strategies (formerly Cypherpunk Holdings), a digital asset investment company in Canada, recently recorded an increase of over 4% after filing with the U.S. Securities and Exchange Commission (SEC) with the goal of listing on Nasdaq. This is an important step to expand influence and attract investors in the U.S. stock market.

Listing journey and stock situation

According to the announcement on June 18, #SOLStrategies has submitted a 40-F filing to the SEC. This is a legal requirement for Canadian companies wishing to list on the U.S. stock exchange. If approved, the company's shares will trade on Nasdaq under the ticker STKE.

Currently, SOL Strategies is listed on the Canadian Securities Exchange (CSE) under the ticker HODL. Following the filing news, the company's stock surged 4.39% during trading, peaking at 2.42 CAD (1.76 USD) and closing at 2.38 CAD (1.73 USD). However, since the beginning of 2025, this stock has decreased by about 17%, and is currently down 61% from its historic peak of 6.10 CAD set earlier this year.

Solana accumulation strategy and growth potential

SOL Strategies is currently one of the rare public companies pursuing a strategy to build a Solana treasury ($SOL ). According to data updated as of June 2, the company holds more than 420,700 SOL, equivalent to approximately 61.32 million USD.

Since April 2025, SOL Strategies has made several notable financial moves to expand its investment portfolio in Solana:


April 2025: The company issued convertible bonds worth 500 million USD, using most of the funds to purchase and stake SOL.
On May 29: SOL Strategies submitted a prospectus to Canadian regulators to prepare for the issuance of new shares, potentially raising up to 1 billion USD, all to be invested in the Solana ecosystem.


According to assessments from the Cantor Fitzgerald analysis team, companies with investment strategies focused on Solana, such as SOL Strategies, are poised for exceptional growth opportunities in the future. The report from Cantor emphasizes Solana's high processing speed, low transaction fees, and strong scalability as the ideal foundation for future financial applications.

In fact, Solana recorded stablecoin trading volume exceeding 110 billion USD in just May 2025, ranking 8th in the market by TVL (Total Value Locked). With major institutions like Franklin Templeton, VanEck, and Grayscale expanding their presence in this ecosystem, SOL Strategies' increase in SOL accumulation can be seen as a proactive step to attract capital from these 'big players' into this ecosystem.

At the time of writing, SOL is currently trading around 145 USD, reflecting a slight decrease of 1.3% in the past 24 hours. #anhbacong