SOL Strategies Becomes First Solana Treasury to Trade on the Nasdaq

A Solana treasury gets listed on the Nasdaq stock exchange. | Erik McGregor/LightRocket via Getty Images.

Key Takeaways

SOL Strategies is now trading on the Nasdaq stock exchange under the STKE ticker. There are now six publicly traded Solana treasury companies that hold almost $1 billion in SOL combined. Solana is trading up 4.3% at $220.19 this week.

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.

Nasdaq Listing

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.

Top Solana Treasuries

According to CoinGecko data , there are now six publicly traded Solana treasuries that hold 4,449,514 SOL worth $979 million.

Upexi – 2,000,518 SOL. DeFi Development Corp – 1,988,170 SOL. Sol Strategies – 370,420 SOL. Exodus Movement – 43,738 SOL. Torrent Capital – 40,039 SOL. Lion Group Holdings – 6,629 SOL.

They’ll soon have stiff competition as Forward Capital readies to launch its SOL treasury strategy, which could have over $1 billion earmarked for SOL acquisitions.

Amid a broader market shakeout, SOL is performing quite well and gained a modest 1.23% in the past 24 hours.

It’s currently trading at $220.19, up 4.3% in the past week, with a market cap of $119.28 billion.

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