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A Solana-centric firm from Canada has become the first of its kind to be listed on the Nasdaq stock exchange as 2025’s trend of Bitcoin and altcoin treasury firms catches on like wildfire. Publicly traded Canada-based firm SOL Strategies has announced that its stock STKE is now trading on the Nasdaq. This makes it the first Solana treasury firm to debut on the exchange.
The firm set out on its mission when it rebranded from Cypherpunk Strategies to SOL Strategies on Sept. 12, 2024. But it’s not simply a Solana treasury akin to that of Michael Saylor’s Strategy, Metaplanet, and others who sell shares to raise funds to then increase their Bitcoin holdings.
SOL Strategies is also an active participant in the ecosystem, supporting its growth and offering infrastructure to the network. It does so by operating its own validator node, making strategic investments into SOL ecosystem projects and infrastructure, and similar efforts. Markets have responded poorly, with STKE dropping over 16.5% over the past 24 hours. Though sharp, the decline appears to be part of a broader dip for STKE, which is trading down 37.9% over the past 6 months.
