Canadian Solana Treasury agency, SOL Methods, has submitted an software to the U.S. SEC in hopes of gaining permission to commerce on the Nasdaq change below the ticker STKE.
In keeping with the lately filed official document, SOL (SOL) Methods intends to commerce Widespread Shares with out par worth below the the buying and selling image “STKE” on the Nasdaq Capital Market. Initially, the corporate’s widespread stock was buying and selling below the “HODL” image on the Canadian Securities Alternate and below “CYFRF” on the OTCQB.
On June 19, the Ontario-based filed a Type 40-F software with the U.S. monetary watchdog. A Type 40-F submitting with the U.S. SEC is a obligatory requirement for firms in search of to register securities for buying and selling within the U.S. market.
The shape remains to be awaiting approval from the SEC. That is the primary time the Solana Treasury agency plans to enter the U.S. market, which might probably grant them extra publicity into America’s more and more pro-crypto motion.
After information of the submitting broke, SOL Methods’ inventory noticed a rise in worth by 4.3% as of June 19. In keeping with data from Google Finance, HODL inventory rose 10 factors to 2.38 from 2.28.
In distinction, the information of SOL Methods’ SEC submitting barely affected the worth of Solana. Shortly after the information went viral, SOL jumped barely by 0.3% up to now hour.
At press time, SOL has gone down 1.62%, persevering with its descent from a number of days prior. SOL is at the moment buying and selling at $146.38. The token has declined almost 9% up to now week and 13.6% up to now month. Its market cap stands at $77.2 billion.
How a lot Solana are in SOL Methods’ holdings?
On Could 29, SOL Methods reported that it had bought 26,478 SOL for $4.7 million. This latest buy brings its whole holdings to roughly 420,355 SOL, consisting of 269,258 SOL owned and 268,671 tokens actively staked to the corporate’s validators.
Again in April, SOL Methods announced that it had secured funds of as much as $500 million through a convertible notice settlement with ATW Companions. The agency plans to make use of the capital to build up extra SOL tokens and assist validator operations.
Previously working below the identify Cypherpunk Holdings Inc., SOL Methods initially shifted from a Bitcoin (BTC)-focused treasury and commenced accumulating Solana in late October 2024. Only a month prior, the corporate rebranded and altered its identify to SOL Methods.
Nonetheless, the official announcement that they had been discarding its Bitcoin treasury technique in favor of Solana of their This fall Shareholder Letter filed January 29, 2025.
