Sol Strategies, a Canadian investment firm specializing in the Solana blockchain ecosystem, has officially filed a Form 40-F with the U.S. Securities and Exchange Commission (SEC) as it seeks to list its shares on the Nasdaq stock exchange.
If approved, the company would begin trading under the ticker symbol STKE, expanding its presence from the Canadian Securities Exchange (CSE), where it currently trades under HODL.
Nasdaq Listing Could Boost Exposure
The Form 40-F filing is a standard requirement for Canadian companies aiming to list on U.S. exchanges. A Nasdaq listing could significantly enhance the firm’s visibility and investor base. The Nasdaq, the second-largest stock exchange globally, boasts a market capitalization of $30.12 trillion and over 3,300 company listings, compared to the CSE’s 762 listed securities as of April 30.
News of the SEC filing sent Sol Strategies’ stock up 4.39% on Tuesday. The share price peaked at 2.42 CAD ($1.76) before closing at 2.38 CAD ($1.73). Despite the surge, the stock remains 17% down year-to-date and has plunged 61% from its all-time high of 6.10 CAD, reached on January 22, according to Google Finance.
The push toward a U.S. listing comes on the heels of a difficult financial quarter. Earlier this month, Sol Strategies reported a net loss of $3.5 million for the quarter ending March 31, 2025, raising concerns about its short-term financial health.
Sol Strategies Building a Massive Solana Treasury
Despite the financial setbacks, Sol Strategies continues to double down on its core belief in the Solana ecosystem. As of June 2, the company held over 420,000 SOL tokens, valued at approximately $61.32 million, as part of its long-term Solana treasury reserve strategy. The reserve underscores the firm’s commitment to the network and its vision of Solana’s role in the future of blockchain finance.
Sol Strategies’ bid for a Nasdaq listing could serve as a pivotal moment in its efforts to attract global capital while cementing its identity as a major institutional backer of the Solana blockchain.
