Sol Strategies Plans Nasdaq Entry, Owns 420K SOL Tokens

Sol Strategies, the company dedicatedly to supporting Solana and now owns 420,000 SOL, has filed for listing on the Nasdaq Capital Market with an aim to expand in the United States.

It is worth noting that the company is registering its common shares under 12(b) of the United States Securities and Exchange Commission Act of 1934. Which means it is filing to offer its shares to be publicly traded in the United States.

In terms of Solana holdings, Sol Strategies is now one of the most prominent institutional holders of this crypto; the company is focusing on positioning it as a digital assets investment vehicle with a primary focus on blockchain technology.

On June 18, 2025, Sol Strategies’ stock listed in Canada added 4.39% to its price, reaching 2.38 CAD; market experts term this surge as fully backed by the news of its filing for the Nasdaq.

Sol Strategies aims to be one of the largest Solana holders

Sol Strategies, a crypto-focused firm, has a clear intention to buy more and more Solana tokens with significant institutional backing to achieve this goal. In April this year, it secured a $500 million convertible note facility from ATW Partners

The facility will be exclusively used to purchase and stake Solana tokens; the 1st trench of $20 million was deployed by May 1, 2025. Sol Strategies stakes the acquired SOL on its validator node, using up to 85% of the staking reward.

Other than Sol Strategies, Upexi, a company registered on Nasdaq, reportedly owns 679,677 Solana tokens; in April this year, the company integrated SOL into its treasury, and on May 12, 2025, Upexi bought 326,347 locked Solana tokens at an average price of $135.22. After this purchase, its holdings reached 596,714 Solana

On May 28, it was reported that it had acquired 77,879 locked SOL at $151.50 each

DeFi Development Corp. has 621,313 Solana, and Classover Holdings owns 420,355 SOL tokens; after the widening adoption of Bitcoin among institutions, now the trend has arisen of buying other prominent cryptos of the market like Ethereum, Solana, Cardano, Dogecoin, and XRP, including others.

A quick overview of Solana prices

At the time of writing, Solana is trading at $145.40 with an intraday decline of 1.53% and losing 8.89% of its price in a week

Source: TradingView

Solana has lost 13.06% of its price in a month, falling below 20,50,100 and 200-day exponential moving averages, and in the year-to-date time frame, SOL lost 23.37% of its price.

Not only its prices but also Solana’s market capitalization has seen a decline of 7.26% in a week, reaching $235.34 billion, and is down by 6.61% in a month.

Till press time, Solana was dominating 2.39% of the crypto market, its dominance is down by 4.90% in a week and 16.57% in the year-to-date time frame

Source: TradingView