SOL Strategies, a Canada-based digital asset firm, has made its first major move from its new Strategic Ecosystem Reserve (SER), deploying over $100,000 to acquire more than 52,000 Jito (JTO) tokens as part of its plan to strengthen critical infrastructure within the Solana blockchain. The purchase, confirmed on June 26, highlights SOL Strategies’ deep ties to the Solana network. CEO Leah Wald emphasized that the move goes beyond mere token accumulation. “We’re not just investing in tokens, we’re investing in the infrastructure driving transaction processing for millions of Solana users,” Wald said.
Announcing our Strategic Ecosystem Reserve (SER) with the initial acquisition of 52,181 JTO tokens!As infrastructure builders deeply embedded in Solana, we're investing in the foundational projects driving the ecosystem forward. @JitoNetwork's MEV infrastructure is critical to… pic.twitter.com/2MTedyy7oZ— SOL Strategies (CSE: HODL | OTCQB: CYFRF) (@solstrategies_) June 26, 2025
The company’s validator operations currently manage more than 3.7 million SOL, making it one of the largest institutional stakeholders in the ecosystem. Its validator partners include major names like Pudgy Penguins, and its Laine validator was the first to run Jito on the Solana mainnet back in 2022.
Unlike previous treasury purchases, the new SER will be funded through validator revenues instead of the company’s SOL holdings, a strategy that Wald says enables growth without weakening its core SOL position.
Jito: Solana’s MEV Powerhouse
Jito is Solana’s leading MEV (Maximal Extractable Value) infrastructure and liquid staking provider. With more than $2.6 billion in total value locked (TVL) according to DeFiLlama, Jito remains one of Solana’s top contributors to stake pool innovation through tools like Stakenet.
SOL Strategies, formerly Cypherpunk Holdings, pivoted fully to Solana in late 2024, rebranding to reflect its sharper focus. The company also runs the validator analytics platform Stakewiz and the Orangefin mobile app.
Going Bigger: Nasdaq Listing & Tokenized Shares
The Jito deployment is only one piece of a larger ambition. SOL Strategies is actively seeking a U.S. footprint, filing to list on the Nasdaq under the ticker “STKE.” Already listed on the Canadian Securities Exchange as HODL, it holds over 420,000 SOL tokens and has become one of the largest institutional Solana investors.
In May, the company filed a preliminary $1 billion shelf prospectus to give itself flexibility for future capital raises through equity or debt offerings. Although there are no immediate plans to tap the shelf, Wald says it creates “long-term runway” for validator growth, acquisitions, and further ecosystem investments.
The firm’s stake-driven revenues have soared to $1.85 million this quarter from just $67,000 a year ago, though heavy investment and infrastructure costs pushed total expenses to $6.21 million.
In April, SOL Strategies secured a $500 million convertible note facility from ATW Partners, uniquely structured to pay interest in SOL and align investor returns with Solana’s network growth.
Additionally, the firm has signed a memorandum of understanding with Superstate to explore tokenizing its shares directly on Solana, positioning it on the frontier of bringing public equity onto the blockchain.
More Allocations Ahead
Wald says the reserve will stay flexible, with more ecosystem-supporting deployments expected soon. “This isn’t just about accumulating tokens,” the company reiterated in its announcement. “It’s about strategically backing the projects that are crucial to Solana’s growth and performance.”
As SOL Strategies advances its mission, the firm appears poised to cement its position as a major institutional force helping shape Solana’s future.
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