SOL Strategies Targets Nasdaq Listing, Expands Solana Investment Strategy
Toronto-based SOL Strategies has filed a Form 40-F with the U.S. Securities and Exchange Commission (SEC), taking a major step toward listing on the Nasdaq Exchange under the ticker symbol STKE. This move is part of the Canadian firm's broader ambition to gain exposure to U.S. capital markets while scaling its presence within the Solana blockchain ecosystem.
SEC Filing and Market Listing Plans
The Form 40-F is a key SEC requirement for Canadian companies aiming to register securities for U.S. trading. While the filing is under review, SOL Strategies’ stock will continue to trade under CYFRF on the OTC markets and HODL on the Canadian Securities Exchange (CSE).
If approved, the company would join Nasdaq, the world’s second-largest exchange with a market cap of over $30 trillion and more than 3,300 listings, far surpassing the CSE's 762. According to investor and Capital Management CEO Anthony Pompliano, this move reflects the difficulty many crypto-native firms face accessing U.S. markets due to stringent regulations.
Following the filing, shares of SOL Strategies rose 4.39% on Tuesday, reaching CAD 2.42 ($1.76) before closing at CAD 2.38 ($1.73). Despite the uptick, the stock remains down 17% YTD and 61% off its all-time high of CAD 6.10 from January 2024.
CEO Statement
> “Submitting our Nasdaq application represents a pivotal step in our journey to bridge institutional investment with the boundless potential of the Solana ecosystem,” said Leah Wald, CEO of SOL Strategies. “This milestone positions us to drive transformative growth and deliver sustained value to our shareholders.”
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Strengthening Solana Ties
SOL Strategies has undergone a dramatic transformation since rebranding from Cyberpunk Holdings in September. Now entirely focused on the Solana blockchain, the company operates a validator and has amassed over 420,000 SOL tokens, worth around $61.3 million as of June 2.
