- SOL Strategies now manages 3.6 million Solana tokens valued at $820 million.
- The company generates around an 8 percent yield from validator staking operations.
- Shares are traded under STKE on the Nasdaq following a one-for-eight consolidation.
SOL Strategies has staked 3.6 million Solana, valued at about $820 million, marking a shift from passive holding to active yield generation. In its treasury balance, the firm holds another 435,000 SOL. The Canadian-based company expanded its reach to U.S. investors, following its listing on Nasdaq under the ticker STKE. Previously, its shares traded on the Canadian Securities Exchange under “HODL” and OTC markets.
Shares rose 7.5% to $7.37 on Friday but closed the week down 43% from debut levels. The Nasdaq listing followed a one-for-eight share consolidation designed to meet minimum price requirements.
With institutional staking on the rise, firms are sponsoring validators with token staking to secure the network, rather than leaving the assets dormant. Therefore, SOL Strategies is experiencing stable and scalable revenues from both validator rewards and treasury staking.
Staking Strengthens Solana’s Network
From its validator operations, SOL Strategies earns around 8% yield on delegated assets. This income is considered “market-agnostic” because it generates returns, irrespective of SOL’s price action. Based on its August update, assets under delegation exceeded $820 million, allowing the firm to gain double annualized revenue in the second quarter compared to the fourth quarter of the previous year.
Major institutions, including ARK Invest, selected SOL Strategies as a staking provider. Millions of SOL tokens were delegated to its validators, validating both the firm’s operational reliability and Solana’s security framework.
CEO Leah Wald, who took leadership in July 2024, described the company as a challenger in a competitive landscape. “We are a tiny technology company out there in a sea of technology companies,” she said. Wald pointed out that operating as an underdog has advantages, offering space to build without hype-driven distractions.
The firm operates as a core contributor to Solana, running validator nodes that nonetheless secure the network and attain yield in favor of clients and in-the-money. Such validator activities have become a fundamental source of assurance for institutions within the Solana infrastructure.
Related: SOL Strategies Secures Nasdaq Listing, Set to Trade as STKE
Rebrand, Growth, and Institutional Appetite
The company rebranded from Cypherpunk Holdings to SOL Strategies in September 2024 to align with Solana’s rapid growth. Before the rebrand, it sold Bitcoin holdings and Animoca Brands shares to expand its Solana reserves.
The firm accumulated SOL before the asset’s surge to its all-time high of $293 in January. By mid-2025, SOL Strategies had become a significant institutional player in Solana staking, leveraging validator income and treasury staking to diversify yield.
Wald stated that she had become “more bullish” on Solana, pointing to its developer activity and engaged community as drivers of long-term growth, reflecting the confidence of broader institutional appetite for Solana staking.
Multiple publicly traded companies are now following a similar model, wherein institutions are buying and holding SOL reserves, then staking them for validator yield. This strategy has helped transform treasuries into income-generating tools rather than passive assets exposed to market price shifts.
For SOL Strategies, staking income provides stability during market volatility. From delegated assets, it earns commission while also collecting yield on treasury holdings, thus creating a dual-income model, which positions the firm as a key player in institutional staking.
