Solana Treasury Firm SOL Strategies Lists on Nasdaq With $94M in Holdings

Key Insights:

• SOl Strategies holds 435,064 SOL, valued at $94.25 million, and oversees 3.62 million SOL under delegation.
• Growing number of publicly listed firms are building Solana Treasury, such as Forward Industries, DeFi Development Corporation, and Upexi.
• SOL price is already up 25% over past month, as analysts predict a potential rally to $260–$325.

SOL Strategies, a Solana treasury firm recently listed on Nasdaq under the ticker STKE, and is trading 17% up during the early trading hours on Wednesday, September 10. As of the listing time, the firm holds a total of 435,064 SOL, valued at $94.25 million. This is the first Canada-based Solana-focused public firm, securing a US listing.

Solana Treasury Firm Makes Wall Street Debut

The Nasdaq listing marks a key milestone in SOL Strategies’ expansion plan. It will offer the company greater access to U.S. capital markets and institutional investors while boosting its visibility and trading liquidity. Speaking on the development, Leah Wald, Chief Executive Officer of SOL Strategies, said:

Solana Treasury firm SOL Strategies currently oversees 3.62 million SOL under delegation, including 402,623 SOL from its own treasury. The firm has seen record participation, with 8,812 unique wallets staking through its platform. In July, Cathie Wood’s ARK Invest also delegated 3.6 million SOL.

In June, SOL Strategies posted a Q2 net loss of $3.5 million. Despite this, the firm grew its validator and staking revenue, while selling significant portions of its BTC holdings to acquire SOL and Sui.

Race for Solana Treasury Accelerates

More and more Wall Street players and publicly listed firms seek to build their own crypto treasury. As big money goes to Bitcoin and Ethereum, small public-listed firms also explore treasuries for other digital assets. Solana is among the top contenders for crypto treasuries.

Recently, Forward Industries announced a $1.65 billion private placement, led by Galaxy Digital, Jump Crypto, and Multicoin Capital, to implement a digital asset treasury strategy focused on Solana.

Galaxy Digital will provide institutional infrastructure, including trading, lending, and staking services. On the other hand, Jump Crypto brings technical expertise through projects such as the Firedancer validator client.

Nasdaq-listed DeFi Development Corporation currently holds 1.27 million SOL, valued at $248 million, following a $122.5 million debt raise led by Cantor Fitzgerald. The firm added nearly 292,000 SOL in recent months. Upexi remains the largest corporate SOL holder, with over 2 million SOL worth roughly $444 million.

SOL Price On Upward Trajectory

Amid the volatile crypto market, SOL price has shown major strength, extending its monthly gains to 25% and is currently trading at $223. The daily trading volume has also surged by 5% to more than $9.56 billion, while the SOL futures open interest is up 8% today, to more than $15.5 billion, as per the Coinglass data.

Crypto analyst Altcoin Sherpa expressed continued bullishness on Solana (SOL), predicting the token could reach $250 in the coming weeks or months. The analyst cited growing inflows from the Solana Treasury firms as a potential catalyst for further buying. “I’m holding a position in SOL and expect it to grind higher over time,” Sherpa noted.

Technical analysts suggest that if Solana (SOL) maintains a close above $210 on a three-day chart, the token could target $260, with potential upside to $295 and $325 if momentum strengthens. Analysts identified ideal entry points between $215 and $225 while the current bullish structure remains intact. A close back below $200 would invalidate the breakout scenario.