First Solana Investment Firm, SOL Strategies, Lists on Nasdaq Global Select (STKE)

• SOL Strategies has officially been listed on Nasdaq under the ticker symbol STKE, stopping its trading on the OTCQB Venture Market.
• The company has also launched an innovative ceremony to celebrate this major milestone. 

A publicly traded Canadian company providing infrastructure for the Solana blockchain ecosystem, SOL Strategies, has officially commenced the trading of its common shares on the Nasdaq Global Select Market (Nasdaq) under the ticker symbol STKE.

To celebrate this milestone, the company has unveiled an “on-chain bell ringing ceremony” on the stake.community to ensure that permanent transaction memos are created on the Solana blockchain by participants.

More From SOL Strategies

According to an official announcement, SOL Strategies would stop trading on the OTCQB Venture Market (OTCQB). However, they would continue to trade on the Canadian Securities Exchange (CSE) under the symbol (HODL). In this case, OTCQB shareholders have been asked not to take any action. The company has assured that its existing shares would automatically be converted.

Nasdaq has, over the years, maintained its highest listing standard, hinting at the level of business fundamentals and governance of SOL Strategies. Commenting on this milestone, the Chief Executive Officer of SOL Strategies, Leah Wald, highlighted that this massive development positions them to attract institutional investors who equally recognize the potential of Solana infrastructure.

Additionally, Wald believes that this listing would offer its shareholders enhanced liquidity while benefiting from deeper capital market access.

Meanwhile, this is just one of the major successes of the company this year. In February, it announced that it was selected as the staking provider of 3iQ Corp.’s (“3iQ”) Solana Staking ETF. According to reports, it agreed to invest $15 million on the Fund’s launch date.

SOL Related Development and Price Reaction

As indicated in our earlier post, SOL Strategies previously hinted that it is aggressively accumulating SOL, committing $500 million for this course. As also mentioned in our recent blog post, the company has partnered with Tetra Trust to secure Solana staking.

Amid the backdrop of the recent listing, Solana (SOL) is “seriously printing gains” in the market as it records growth across all the major trading sessions. At the time of writing, the asset was trading at $222. It had surged by 1.6% in the last 24 hours, 6.5% in the last seven days, 21% in the last 30 days, 39% in the last 90 days, and 14.6% from year to date.

According to our recent analysis, the asset could hit $250 in the short term, fueled by certain factors. One of these is the rising Institutional adoption. As noted in our earlier news coverage, the likes of Galaxy Digital, Jump Crypto, and Multicoin Capital are joining hands with Cantor Fitzgerald to raise up to $1 billion for a joint Solana treasury.