Solana Treasury Company to Commence Stock Trading on the Nasdaq Market with SOL Strategies
In a significant move for the Solana blockchain ecosystem, SOL Strategies, a company specializing in Solana blockchain infrastructure and staking operations, has received approval to list its common shares on the Nasdaq Exchange. The company, which is now trading under the ticker STKE, expects to begin trading on September 9.
SOL Strategies, a publicly traded Solana treasury, has been making waves in the crypto world. With over 3 million staked SOL, worth approximately $741 million, the company is one of the largest Solana treasuries in the public market. According to CoinGecko, as of August 31, SOL Strategies is third among publicly traded SOL treasuries.
Leah Wald, the CEO of SOL Strategies, has been instrumental in leading the company through this milestone. She emphasizes the company's commitment to long-term value creation and expanding institutional investment in Solana. Upon listing, SOL Strategies anticipates accelerating the growth of its Solana validator operations.
The listing brings several benefits for shareholders. It provides enhanced liquidity, broader investor participation, and the credibility that comes with being in Nasdaq's orbit. For instance, shares of HODL on the Canadian Stock Exchange traded up nearly 20% on the day to $10.21 CAD, or around $7.37.
Wald expressed her excitement about the listing, stating, "Earning this listing places SOL Strategies on the same global stage as some of the most innovative public companies." She further added that the listing opens up deeper capital markets, greater institutional visibility, and new partnership opportunities.
SOL Strategies' quarterly annualized revenue growth has been impressive. It reported a growth to around $8.7 million USD in Q2, up from around $3.5 million in the final quarter of 2024, according to a recent investor presentation.
The official Nasdaq listing remains subject to listing and regulatory requirements, and the firm's effective registration of common shares with the SEC. However, for SOL Strategies, this listing marks a significant step towards proving to the market that it's here to join the fray and fight for a top seat in the public markets.
The story was updated after publication to add quotes from Wald.
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