SOL Strategies, the first Solana-native treasury company, has secured approval to list its shares on the Nasdaq under ticker STKE, according to exclusive information obtained by Blockworks. The long-anticipated U.S. debut comes after nearly a year of restructuring and regulatory navigation and could set the stage for a new era of on-chain finance going public.
Once buried in the Canadian markets as Cypherpunk Holdings, the firm reemerged in 2024 as SOL Strategies under ex-Valkyrie CEO Leah Wald. The passive treasury model was scrapped in favor of full-throttle validator ops on Solana, acquiring nodes from Orangefin, Cogent Crypto, and Laine, while powering branded infrastructure for Pudgy Penguins and Solana Mobile. A stark pivot from crypto treasuries still clinging to cold storage and inertia.
Its $90 million in SOL may trail the top Solana DATs—each sitting on $380M+—but limited access to U.S. markets had been a bottleneck. That’s no longer the case. The listing vaults SOL Strategies into a growing class of publicly traded digital asset treasury companies (DATs) now backed by Wall Street infrastructure. According to Blockworks Research, every Solana DAT now trades on Nasdaq—except BIT Mining, which remains on the NYSE.
It’s also a warning shot: traditional treasuries without staking revenue or ecosystem ties may struggle to compete as Solana-native firms capture yield, attention, and legitimacy in public markets. In a statement, CEO Leah Wald framed the listing as both milestone and market signal: “Our approval to list on Nasdaq signals to both institutional and retail investors that a Solana-focused validator and treasury company can meet the same standards of transparency, resilience, and growth expected of any public company.
It also demonstrates that our approach is resonating within both the Solana ecosystem and traditional capital markets.” The firm’s 900% stock rally over the past year may speak louder than words. And with the ticker STKE now active on Nasdaq, SOL Strategies is betting that staking-first treasuries aren’t just a trend—they’re a new blueprint.
The Federal Reserve has unveiled a new proposed rule that would require certain payment stablecoin issuers to…
Shares of HIVE Digital Technologies jumped more than 10% after the company announced a major $220 million, three-year…
Illinois has officially become the first U.S. state to impose a transaction-based tax on cryptocy activity…
The cryptocy market was hit by a sharp wave of volatility after the Federal Open Market…
Algorand is accelerating its push toward becoming one of the world's first fully quantum-resistant blockchains, announcing…
The long-awaited Digital Asset Market CLARITY Act is moving closer to becoming law as momentum continues building…