Catena, Sunday, December 15, 2024- Sol Strategies, a blockchain-focused investment firm, is planning a Nasdaq listing following a 2,336% surge in its stock on the Canadian Securities Exchange since July.
The move aims to broaden its investor base, boost liquidity, and enhance brand visibility, CEO Leah Wald said in a statement on Wednesday.
The company, which pivoted from Bitcoin to the Solana ecosystem earlier this year, has allocated nearly one million SOL tokens, worth over $300 million, to staking and validator investments. Wald said the shift reflects confidence in Solana’s scalability and potential to drive blockchain adoption.
Under Wald’s leadership since July, the firm has reduced Bitcoin exposure, aligning with its vision to capitalize on Solana’s ecosystem through initiatives like grants and partnerships.
Dual listings on Nasdaq and the Canadian exchange will allow the company to increase liquidity while maintaining accessibility for investors in multiple markets. The firm’s ticker, HODL, will remain unchanged in Canada, symbolizing resilience and long-term vision, Wald added.
Sol Strategies’ pivot mirrors a broader trend of crypto companies transitioning from Bitcoin-centric strategies to exploring newer blockchain ecosystems with growing developer activity and scalability.
