SOL Strategies, a Canadian-based publicly traded company that is focused on accumulating Solana coins, has announced its final approval to debut in the United States market. On Friday, SOL Strategies announced that it received a green light to list on the Nasdaq Global Select Market (NASDAQ).
According to the announcement, SOL Strategies will list on the NASDAQ exchange on September 9 under the ticker STKE. Additionally, the company’s stock market will continue to trade on the Canadian Securities Exchange (CSE) under the ticker HODL.
Meanwhile, SOL Strategies noted that its shares will stop trading on the OTCQB venture market under the ticker symbol CYFRF once the NASDAQ listing is finalized. The company’s entrance to the United States market will play a crucial role in its liquidity management.
“This listing provides our shareholders with enhanced liquidity while giving us access to deeper capital markets as we continue scaling our validator operations and expanding our ecosystem investments. This Nasdaq listing represents more than just an achievement for SOL Strategies, it’s validation for the entire Solana ecosystem,” Leah Wald, CEO of SOL Strategies, noted.
The company will now be exposed to the thorough scrutiny by NASDAQ exchange on companies selling their stocks to purchase crypto assets.
According to market aggregate data from Strategicsolanareserve, a total of 13 entities have accumulated 8.88 million SOL coins for their Solana treasury management. Out of the accumulated SOL coins, around 585k SOL coins have been staked by the different entities, earning upto 6.86% in average yield.
Sharps Technology, DeFi Development Corp., and Upexi are the top holders of Solana with a treasury balance of more than 2 million SOLs. SOL Strategies currently has 402.9k Solana coins, valued at about $82.5 billion.
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