Sol Strategies, a Canadian stock exchange-listed company, has filed with the US SEC to be listed on Nasdaq. The firm aims to trade under the ticker name STKE. Sol Strategies has been accumulating Solana (SOL) as a treasury asset. The company currently holds 420,355 SOL, worth around $61.13 million.

Will We See Increased Solana Buys?

Sol Strategies has previously ditched its Bitcoin holdings to focus more on SOL. The latest 40-F filing with the SEC marks another milestone for the company. The move highlights the firm’s growing confidence in the SOL network.

If the SEC approves the 40-F filing, we may see an increase in Solana (SOL) exposure for the company. The underlying asset will likely see a price bump if things go according to plan.

Solana (SOL) also has several spot ETF applications currently awaiting approval with the SEC. According to Bloomberg ETF analyst James Seyffart, there is a 90% chance that the SEC will approve a spot SOL ETF this year.

The Asset Continues To Glow Red Despite Bullish Developments

Solana (SOL) has seen quite a few bullish developments over the last few days. VanEck recently registered its SOL ETF with the Depository Trust & Clearing Corporation (DTCC). SOL’s price does not seem to move despite the bullish environment around the asset.

Also Read: Solana: VanEck Reveals DTCC Registered Spot SOL ETF Ticker

SOL is currently struggling to breach the $150 mark. The asset is down 1.7% in the daily charts, 8.9% in the weekly charts, 4.7% in the 14-day charts, and 14.4% over the previous month.

While the current dip is concerning, Solana (SOL) has proven to be quite a resilient cryptocurrency over the last few years. The asset’s price had fallen to below $9 after the collapse of FTX in 2022. Since its 2022 lows, SOL has hit multiple all-time highs. The asset may recover from its current predicament if market sentiment rebounds.