Solana Soars: Canadian Firm Sol Strategies Eyes Nasdaq Listing in Bold Crypto Expansion

Solana's institutional adoption hits hyperdrive as Sol Strategies—already listed in Canada—files for a Nasdaq debut. The high-speed blockchain's ecosystem keeps attracting TradFi players, whether they understand the tech or not.

From Toronto to Wall Street: A crypto-native asset manager goes mainstream

Sol Strategies' Nasdaq filing marks another watershed moment for institutional crypto adoption. The firm—which already offers Solana-focused investment products in Canada—is betting big on US demand despite regulatory headwinds.

Wall Street's latest crypto flirtation comes with Solana trading at 85% below its ATH. Maybe they've finally learned to 'buy when there's blood in the streets'—or maybe they just want those sweet, sweet management fees either way.

Will We See Increased Solana Buys?

Sol Strategies has previously ditched its Bitcoin holdings to focus more on SOL. The latest 40-F filing with the SEC marks another milestone for the company. The move highlights the firm’s growing confidence in the SOL network.

If the SEC approves the 40-F filing, we may see an increase in Solana (SOL) exposure for the company. The underlying asset will likely see a price bump if things go according to plan.

Solana (SOL) also has several spot ETF applications currently awaiting approval with the SEC. According to Bloomberg ETF analyst James Seyffart, there is a 90% chance that the SEC will approve a spot SOL ETF this year.

The Asset Continues To Glow Red Despite Bullish Developments

Solana (SOL) has seen quite a few bullish developments over the last few days. VanEck recently registered its SOL ETF with the Depository Trust & Clearing Corporation (DTCC). SOL’s price does not seem to MOVE despite the bullish environment around the asset.

SOL is currently struggling to breach the $150 mark. The asset is down 1.7% in the daily charts, 8.9% in the weekly charts, 4.7% in the 14-day charts, and 14.4% over the previous month.

While the current dip is concerning, Solana (SOL) has proven to be quite a resilient cryptocurrency over the last few years. The asset’s price had fallen to below $9 after the collapse of FTX in 2022. Since its 2022 lows, SOL has hit multiple all-time highs. The asset may recover from its current predicament if market sentiment rebounds.