#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Canada’s Sol Strategies Eyes Nasdaq Listing with Bold Solana Bet - Coinspeaker
Key Notes
Canadian crypto firm Sol Strategies has officially filed a Form 40-F with the US Securities and Exchange Commission (SEC) to begin the process of listing its shares on the Nasdaq Stock Exchange. If approved, the company’s stock will trade under the ticker symbol STKE.
Form 40-F is a mandatory filing for Canadian companies seeking to list securities on U.S. exchanges. Following news of the SEC filing, the company’s stock surged over 4.3% during Tuesday’s trading session, signaling early investor optimism.
Sol Strategies’ Solana-Centric Vision
Sol Strategies has gained attention for its aggressive accumulation of Solana tokens as part of its treasury reserve strategy.
Last month, the company filed a prospectus with Canadian regulators with plans to raise up to $1 billion. The proceeds are intended to expand the firm’s investments across the Solana ecosystem, including potential DeFi and tokenized asset projects.
Earlier in April, the company raised $500 million through convertible notes, with the capital directed toward buying and staking SOL tokens. As of June 2, Sol Strategies held over 420,000 SOL, valued at around $61.32 million.
This holding underscores the firm’s long-term commitment to the Solana network, which has seen an over 3000% surge in its total value locked (TVL), currently standing at $8.3 billion.
Related article: Solana Price Prediction: SOL Staking Deposits Cross $730M as VanEck Lists SOL ETF on DTCCCantor Fitzgerald recently predicted that Solana could soon outpace Bitcoin and Ethereum in corporate treasuries. It stated that firms backing Solana may benefit from the network’s increasing role in tokenized finance.
Wave of Crypto Firms Eyeing US Listings
Sol Strategies is part of a broader trend of crypto-native firms pursuing listings on major US stock exchanges. Stablecoin giant Circle made its long-awaited debut on the NYSE earlier in June, with shares skyrocketing 168% on the first day. It has surged over four times since the launch.
In May, social trading platform eToro listed on Nasdaq, gaining nearly 30% post-IPO. Moreover, Mike Novogratz-led Galaxy Digital up-listed from the Toronto Stock Exchange to Nasdaq, trading under the ticker GLXY.
Meanwhile, Justin Sun’s Tron announced plans to go public through a reverse merger with Nasdaq-listed SRM Entertainment, rebranding the entity as Tron Inc.
The momentum signals a renewed interest for crypto companies in US capital markets, possibly due to a crypto-friendly environment under Donald Trump.
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