Sol Strategies Inc. (CSE: HODL), a Canadian company that successfully implemented a Solana (SOL) treasury plan, has filed Form 40-F with the United States Securities and Exchange Commission (SEC). The company plans to register its securities with the agency and list on the Nasdaq Exchange under the ticker symbol STKE.
The Form 40-F is a requirement by the U.S. SEC for Canadian companies seeking to register securities for trading in the United States market. The crossover to the U.S. market will help SOL Strategies grow exponentially in the coming years fueled by the mainstream adoption of crypto assets.
Following the announcement, HODL stock gained over 4.3 percent on Wednesday to close the day trading at $2.38.
Expected Impact on Solana Market
As Coinpedia previously reported, Sol Strategies ditched its Bitcoin holdings to strengthen its Solana stash. By the end of May, SOL Strategies reported an additional acquisition of 26,478 SOL for $4.7 million, thus increasing its net holding to about 420,355 SOL coins.
In Canada, Sol Strategies filed a preliminary short-form base shelf prospectus with the securities regulator to issue up to $1 billion in the next two years. The company announced that it plans to strengthen its Solana holdings through leveraging the equity market.
As a result, its entrance into the U.S. market will significantly strengthen its bid to purchase Solana coins. The company will join DeFi Development Corp. (NASDAQ: DFDV), which currently holds over 400k SOL coins, and is leveraging the vast U.S. equity market to raise more funds for its Solana acquisition bid.
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