Canada’s Sol Strategies files with SEC to list on the Nasdaq

Sol Strategies, a Canadian firm that focuses on the Solana ecosystem, has filed compliance documents with the US Securities and Exchange Commission to get listed on Nasdaq.

The Form 40-F filingrevealsthat if the firm received approval from the agency, it would trade under the STKE ticker symbol on the Nasdaq exchange.

Companies domiciled in Canada are required to file Form 40-F with the SEC if they want their securities to be listed on US exchanges.

The Nasdaq exchange is the second largest exchange in the world with a market capitalization of$30.12 trillionand more than 3,300 company listings, while the Canadian Securities Exchange, where Sol Strategies is currently listed under the tick “HODL,”has762 total securities as of April 30.

Sol Strategies stock gains 4.4%

Following the SEC filing, Sol Strategies’ stock saw a spike of 4.39% in Tuesday’s trading session.

The stock peaked at 2.42 Canadian dollars ($1.76) and ended the trading day at 2.38 Canadian dollars ($1.73).

However, the stock is down 17% year-to-date, and has fallen 61% from its all-time high of 6.1 Canadian dollars, which it reached on January 22,accordingto Google Finance.

Earlier this month, the Canadian firm reported anet loss of $3.5 millionduring the quarter ending March 31, 2025.

Solana treasury reserve strategy

Sol Strategies has been aggressively accumulating SolanaSOL$145.18SolanaChange (24h)1.93%Market Cap$70.64BVolume (24h)$3.11BView Moretokens as part of its Solana treasury reserve strategy.

As of June 2, the company held more than 420,000 SOL tokens, worth approximately $61.32 million,accordingto the company’s website.

Related:SOL price rally to $200 brewing, but 3 key catalysts must happen first

On May 27, Sol Strategies revealed that it hadfiled a prospectuswith Canadian regulators, which could see the company issue its own stock to raise as much as $1 billion in the near future to invest in the Solana ecosystem.

In April, the companyissued convertible notesworth $500 million to buy and stake SOL tokens.

On Monday, analysts from Cantor Fitzgeraldstatedthat companies that invest in Solana stand to benefit from the increased use of SOL in the financial industry. The analysts touted the Solana network’s high speed and low cost, which could be beneficial for tokenized assets.

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