SOL Strategies (previously known as Cypherpunk Holdings), a Toronto-listed asset management firm specializing in the Solana blockchain, has received approval for its common shares to be listed on the Nasdaq Global Select Market. Trading is set to commence on September 9 under the ticker symbol STKE. The company reported that as of August 31, it owned 435,064 SOL tokens, valued at approximately CAD$122 million.

SOL Strategies will maintain its trading on the Canadian Securities Exchange (CSE) under the HODL symbol, but will no longer be listed on the U.S. over-the-counter market (previously traded as CYFRF). Existing OTC shareholders will see their shares transition automatically into the Nasdaq listing.

This move signifies an important step for SOL Strategies as it pivots its operations to enhance visibility among institutional investors and improve liquidity in capital markets. CEO Leah Wald stated, “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.” Additionally, she emphasized that the listing represents acknowledgment for the entire Solana ecosystem.

As part of its strategy, SOL Strategies aims to solidify its role within the Solana staking community while providing significant opportunities for institutional investors.