Sol Strategies, a Canadian stock exchange listed company, filed with the US SEC to be listed on Nasdaq. The company aims to trade under the ticker name Stke. Sol Strategies accumulates Solana (Sol) as a financial asset. The company currently owns 420,355 SOL, worth around $61.3 million.
Will Solana purchases increase?
Sol Strategies previously dumped Bitcoin Holding and focused more on SOL. The latest 40-F submission to the SEC marks another milestone for the company. The move highlights the growing company's trust in the SOL network.
If the SEC approves a 40 f filing, the company's Solana (SOL) exposure could increase. The underlying assets can see price increases as things move along with plans.
Solana (Sol) also has several spot ETF applications currently awaiting approval in the SEC. According to Bloomberg ETF analyst James Seyfert, there is a 90% chance that the SEC will approve the SPOT Sol ETF this year.
Despite bullish developments, assets continue to shine red
Solana (Sol) has seen a considerable number of bullish developments over the last few days. Vaneck recently registered Sol ETF with the Dository Trust & Clearing Corporation (DTCC). Sol's prices do not appear to be moving despite the bullish environment around the assets.
Sol is currently struggling to break the $150 mark. This asset fell 1.7% on the daily chart, 8.9% on the weekly chart, 4.7% on the 14-day chart, and 14.4% on the previous month.
Although DIP is currently a concern, Solana (Sol) has proven to be a highly resilient cryptocurrency over the past few years. The asset prices were below $9 after the collapse of FTX in 2022. If market sentiment recovers, assets could recover from current predicament.
