Sol Strategies Files Form 40-F for Nasdaq Listing Under Ticker STKE
Sol Strategies, a Canadian crypto firm, has filed a Form 40-F with the US SEC to list its shares on Nasdaq under the ticker STKE. The filing led to a 4.3% increase in the company's stock during trading.
Key points:
- Form 40-F is required for Canadian companies listing in the U.S.
- Sol Strategies is focused on accumulating Solana tokens as part of its treasury strategy.
- The firm plans to raise up to $1 billion to expand investments in the Solana ecosystem.
- In April, it raised $500 million through convertible notes for purchasing and staking SOL tokens.
- As of June 2, the firm held over 420,000 SOL, valued at approximately $61.32 million.
- Solana's total value locked (TVL) has surged over 3000%, currently at $8.3 billion.
Cantor Fitzgerald predicts that Solana could surpass Bitcoin and Ethereum in corporate treasuries due to its increasing role in tokenized finance.
Other crypto firms are also pursuing U.S. listings, including Circle, which debuted on the NYSE with shares rising 168%, and eToro, which gained nearly 30% post-IPO on Nasdaq. Tron is planning a reverse merger to go public as Tron Inc.
This trend indicates growing interest from crypto companies in U.S. capital markets amidst a potentially favorable regulatory environment.