Catenaa, Tuesday, June 10, 2025-Canada-based investment firm SOL Strategies has filed a preliminary prospectus to raise up to $1 billion to expand its investments in the Solana blockchain ecosystem, the company announced Tuesday.
The base shelf prospectus, filed with Canadian securities regulators, will allow the firm to issue a variety of financial instruments including common shares, warrants, units, or debt securities.
Though the company stressed it has no immediate plans to issue securities, the filing signals its intent to strengthen its presence in Solana-related assets.
Last month, SOL Strategies secured a $500 million convertible note facility through a partnership with ATW Partners. The firm spent the first $20 million tranche to purchase over 122,000 SOL tokens.
Formerly known as Cypherpunk Holdings, SOL Strategies rebranded in 2024 to reflect its pivot from general crypto equity investments to a Solana-specific focus. Since then, its share price has surged more than 2,000%, currently trading at $2.27.
The investment push underscores growing institutional confidence in Solana’s infrastructure amid broader crypto market volatility. Solana’s ecosystem has seen renewed interest from developers and investors, particularly as regulatory pressures grow on other Layer 1 blockchains.
If fully subscribed, the $1 billion raise would rank among the largest Solana-focused funding efforts to date.
