Solana (SOL) treasury firm SOL Methods secured approval to checklist its widespread shares on the Nasdaq, based on a Sept. 5 announcement.
The corporate expects buying and selling to begin on Sept. 9, beneath the ticker image “STKE” whereas sustaining its Canadian Securities Change itemizing beneath “HODL.”
Shares will now not commerce on the OTCQB Enterprise Market, and present shareholders might be mechanically transformed to the Nasdaq itemizing with out requiring any motion.
CEO Leah Wald mentioned:
“Becoming a member of Nasdaq aligns us with the world’s most progressive know-how firms and positions us to draw institutional buyers who acknowledge the transformative potential of Solana’s infrastructure.”
She added that the itemizing offers shareholders with enhanced liquidity, whereas giving the agency entry to deeper capital markets.
SOL Methods accomplished its transformation from a diversified crypto holding firm to a Solana-first funding automobile after unanimously approving the technique shift at its shareholder assembly on July 30, 2024.
The rebranding coincided with the appointment of Wald as new CEO in early July, which accelerated the corporate’s accumulation of SOL tokens and ecosystem investments.
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The inexperienced mild marks a big milestone for the Toronto-based firm following its strategic rebrand from Cypherpunk Holdings and pivot to Solana-focused investments.
Institutional curiosity in Solana treasuries grows
The approval arrives amid broader institutional curiosity in Solana publicity, with Galaxy Digital, Multicoin Capital, and Bounce Crypto reportedly looking for roughly $1 billion to assemble the biggest devoted SOL treasury by means of a public firm automobile.
Cantor Fitzgerald serves as lead banker for the trouble, which contemplates buying a listed entity to create an institutional-grade Solana treasury.
Different firms additionally function SOL treasuries by means of public markets, together with Upexi, which has holdings surpassing $100 million, and DeFi Growth Corp, reporting 846,000 SOL with plans to compound by way of staking yields.
SOL Methods expects the Nasdaq itemizing to speed up validator development by means of institutional partnerships, improve operational scalability as demand for Solana staking will increase, and strengthen its place because the main institutional gateway to the Solana ecosystem.
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