Solana (SOL) Treasury Company Sol Strategies have obtained approval to mention its ordinary shares on the Nasdaq, according to one September 5 announcement.
The company expects trade to start on 9 September, under the Ticker symbol “Stke” while retaining his Canadian Securities Exchange list under “Hodl.”
Shares will no longer act on the OTCQB venture market, and existing shareholders will be automatically converted into the Nasdaq list without requiring any action.
CEO Leah Wald said:
“Participation in Nasdaq agrees at the most innovative technology companies in the world and positions us to attract institutional investors who recognize the transformative potential of the Solana infrastructure.”
She added that the offer offers shareholders improved liquidity, while the company gives access to deeper capital markets.
Sol strategies completed his transformation from a diversified crypto-holding company to a solana-first investment vehicle after unanimous approval of the strategy shift during its shareholders’ meeting on July 30, 2024.
The rebranding coincided with the appointment of Wald as a new CEO at the beginning of July, which accelerated the accumulation of Sol tokens and Ecosystem Investments by the company.
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The green light marks an important milestone for the company-based company after its strategic rebrand of Cypherpunk Holdings and turns to Solana-oriented investments.
Institutional importance in Solana Treasuries is growing
The approval comes in the midst of a broader institutional interest in Solana exposure, with Galaxy Digital, MultiCoin Capital and Jump Crypto is said to look for around $ 1 billion to collect the largest dedicated Sol Treasury via a vehicle from a public company.
Cantor Fitzgerald serves as the main banker for the effort, which is considering gaining a listed entity to create a Solana Treasury of institutional quality.
Other companies also operate SOL treasuries through public markets, including Upexi, which has surpassed Holdings $ 100 million, and Defi Development Corp, which reports 846,000 SOL with plans to worse through the preparation of revenues.
SOL strategies expects the Nasdaq list to accelerate due to the growth of the validator by institutional partnerships, which improves operational scalability as the demand for Solana deployment increases and the leading institutional access gate to the Solana ecosystem strengthens.
