 
 
Publicly listed Canadian firm SOL Strategies, a Solana treasury and infrastructure company, secured approval to list its common shares on the American-based Nasdaq Exchange.
The Toronto-listed company said in a Friday notice that trading will commence on the Nasdaq Global Select Market on Sept. 9 under the ticker STKE.
Shares of SOL Strategies will continue trading on the Canadian Securities Exchange (CSE) under HODL, but will be no longer trade from the U.S. over-the-counter (OTC) market, where they formerly traded as CYFRF.
CYFRF holders do not need to take action, as their shares will automatically convert to the Nasdaq listing.
“This listing provides our shareholders with enhanced liquidity while giving us access to deeper capital markets as we continue scaling our validator operations and expanding our ecosystem investments,” posited SOL Strategies President and CEO Leah Wald.
 
The Nasdaq listing marks a huge feat for the Canadian company, formerly known as Cypherpunk Holdings, which has rebranded after investing in the Solana blockchain and ecosystem.
The company expects the uplisting to boost the growth of its Solana validator operations as it accelerates institutional demand. As of August 31, SOL Strategies has stockpiled 435,064 SOL, valued at around $88 million as of press time. Moreover, its validators have accumulated over 3 million staked SOL, worth around $740 million.
The $88 million Solana stockpile ranks it third among publicly traded SOL treasuries, according to data collected by CoinGecko. It trails only Upexi and DeFi Development Corp, with each holding around 2 million Solana tokens.
SOL Strategies plans to celebrate the Nasdaq listing with a virtual bell-ringing, inviting the Solana community across the globe to participate.
Solana Set For Major Network Overhaul With Alpenglow
Meanwhile, Solana is gearing up for major improvements after validators passed a proposal earlier this week to implement the long-awaited Alpenglow upgrade.
First introduced in May, Alpenglow introduces a new consensus protocol designed to dramatically improve transaction finality and network efficiency, and put the network on par with centralized infrastructure used in traditional finance.
At the heart of Alpenglow are two new elements, Votor and Rotor, which will reconfigure Solana’s existing systems, Proof-of-History and TowerBFT.
Source: https://zycrypto.com/solana-treasury-company-sol-strategies-to-debut-on-nasdaq-next-week/