In what is a monumental development for Solana, SOL Strategies will raise $1 billion to buy more SOL. Last month, the company secured a $500 million convertible note facility to buy more SOL. Now, SOL Strategies has filed a preliminary base shelf prospectus with local securities regulators to raise up to $1 billion to further SOL investments.

In its Tuesday press release, SOL Strategies stated that the filing and final approval of the prospectus would allow it to offer up to $1 billion in common shares, warrants, subscription receipts, units, or debt securities. “The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem,” said Sol Strategies CEO Leah Wald.

SOL Strategies is a Canadian-based company committed to the development, investment, and support of the Solana blockchain. Since shifting its focus to investment in Solana, Sol Strategies has seen its company’s value surge by over 2,000%. Many companies have begun investing in cryptocurrencies like SOL and Bitcoin, which has benefited them. Strategy (formerly MicroStrategy), for example, is now the biggest institutional investor of Bitcoin, and its company’s value has surged over 2,800% since 2020.

Also Read: SOL Strategies Purchases 122,524 Solana (SOL) Worth $20 Million

Entering 2025, there were few cryptocurrencies that had the kind of potential that Solana did. Already three months into the year, and it has made good on much of that. Specifically, the asset has already seen a SOL ETF debut in Canada. Now, all eyes are on the same investment product model getting approved for a debut in the United States. Should a SOL ETF be approved, Solana could surge even further, making SOL Strategies’ investments worth more.

The Solana SOL cryptocurrency is up by over 12% in the past month, signaling bullish momentum behind the crypto token. At press time, SOL sits at $167, down 6% in the last week.