Solana’s Canadian Powerhouse Files Nasdaq Bid with SEC – Crypto Meets Wall Street
Solana's secret weapon just made a Wall Street power play.
A Canada-based firm tied to the blockchain heavyweight quietly dropped a bombshell filing with the SEC this week—they're gunning for a Nasdaq listing. No more hiding in crypto's shadow.
The move screams institutional validation. While Bitcoin ETFs had their moment, this is next-level adoption—direct market access without the usual crypto caveats.
Wall Street's about to get a crash course in blockchain efficiency. Solana's 400ms block times versus Nasdaq's archaic T+2 settlement? The suits won't know what hit them.
Just don't ask about the filing fees—somewhere a banker is charging $500/hour to 'strategize' this exact play.
Price chart for Solana in the past few days of trading, June 19, 2025 | Source: crypto.news
In contrast, the news of SOL Strategies’ SEC filing barely affected the price of Solana. Shortly after the news went viral, SOL jumped slightly by 0.3% in the past hour.
At press time, SOL has gone down 1.62%, continuing its descent from a few days prior. SOL is currently trading at $146.38. The token has declined nearly 9% in the past week and 13.6% in the past month. Its market cap stands at $77.2 billion.
How much Solana are in SOL Strategies’ holdings?
On May 29, SOL Strategies reported that it had purchased 26,478 SOL for $4.7 million. This recent purchase brings its total holdings to approximately 420,355 SOL, consisting of 269,258 SOL owned and 268,671 tokens actively staked to the company’s validators.
Back in April, SOL Strategies announced that it had secured funds of up to $500 million via a convertible note agreement with ATW Partners. The firm plans to use the capital to accumulate more SOL tokens and support validator operations.
Formerly operating under the name Cypherpunk Holdings Inc., SOL Strategies initially shifted from a Bitcoin (BTC)-focused treasury and began accumulating Solana in late October 2024. Just a month prior, the company rebranded and changed its name to SOL Strategies.
However, the official announcement that they were discarding its bitcoin treasury strategy in favor of Solana in their Q4 Shareholder Letter filed January 29, 2025.
