SOL Strategies (STKE) Debuts on Nasdaq with $94M SOL Holdings

SOL Strategies Launches on Nasdaq, Trading as STKE

SOL Strategies Inc., formerly Cypherpunk Holdings, has officially commenced trading on the Nasdaq Global Select Market under the ticker STKE. This milestone marks a significant step for Solana-based companies seeking access to U.S. capital markets.

The Toronto-based firm marked the occasion with a virtual bell-ringing ceremony, recording participation on the Solana blockchain. A subsequent X Spaces discussion highlighted the company's long-term strategic vision.

"Today marks a significant milestone for SOL Strategies as we commence trading on Nasdaq," said Leah Wald, CEO. "As one of the first Solana-focused companies to achieve a Nasdaq listing, this milestone reflects our commitment to building institutional-grade infrastructure within the Solana ecosystem."

The Nasdaq listing, approved last week, is expected to attract institutional investors and increase validator growth on the Solana network. STKE continues to trade on the Canadian Securities Exchange.

Expanding the Solana Ecosystem

SOL Strategies holds approximately $94 million worth of SOL, underscoring its commitment to Solana's infrastructure. This follows a recent filing of a shelf prospectus with Canadian regulators to potentially raise $1 billion for future Solana investments.

Earlier this year, Ark Invest selected SOL Strategies to manage SOL staking operations for the ARK Digital Asset Revolutions Fund. Ark will migrate its validator activity onto SOL Strategies’ enterprise-grade network.

This news coincides with increased institutional interest in Solana, highlighted by DeFi Dev Corp's recent purchase of $39.67 million worth of SOL, increasing its total reserves to over $427 million.