Solana (SOL) treasury company SOL Strategies secured approval to list its common shares on the Nasdaq, according to a Sept. 5 announcement.

The company expects trading to commence on Sept. 9, under the ticker symbol “STKE” while maintaining its Canadian Securities Exchange listing under “HODL.”

Shares will no longer trade on the OTCQB Venture Market, and existing shareholders will be automatically converted to the Nasdaq listing without requiring any action.

CEO Leah Wald said:

“Joining Nasdaq aligns us with the world’s most innovative technology companies and positions us to attract institutional investors who recognize the transformative potential of Solana’s infrastructure.”

She added that the listing provides shareholders with enhanced liquidity, while giving the firm access to deeper capital markets.

SOL Strategies completed its transformation from a diversified crypto holding company to a Solana-first investment vehicle after unanimously approving the strategy shift at its shareholder meeting on July 30, 2024.

The rebranding coincided with the appointment of Wald as new CEO in early July, which accelerated the company’s accumulation of SOL tokens and ecosystem investments.

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The green light marks a significant milestone for the Toronto-based company following its strategic rebrand from Cypherpunk Holdings and pivot to Solana-focused investments.

Institutional interest in Solana treasuries grows

The approval arrives amid broader institutional interest in Solana exposure, with Galaxy Digital, Multicoin Capital, and Jump Crypto reportedly seeking approximately $1 billion to assemble the largest dedicated SOL treasury through a public company vehicle.

Cantor Fitzgerald serves as lead banker for the effort, which contemplates acquiring a listed entity to create an institutional-grade Solana treasury.

Other companies also operate SOL treasuries through public markets, including Upexi, which has holdings surpassing $100 million, and DeFi Development Corp, reporting 846,000 SOL with plans to compound via staking yields.

SOL Strategies expects the Nasdaq listing to accelerate validator growth through institutional partnerships, enhance operational scalability as demand for Solana staking increases, and strengthen its position as the leading institutional gateway to the Solana ecosystem.

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Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

August 19, 2025

Indian crypto exchange WazirX has secured overwhelming creditor support, with more than 95% of voters backing its latest restructuring proposal, which now awaits regulatory approval from the Singapore High Court.

The creditor vote on the restructuring framework means the plan now requires judicial endorsement from Singapore’s court to authorize the Amended Scheme following the platform’s hacking incident.

According to a recent statement, WazirX Founder Nischal Shetty outlined that the restructuring blueprint includes platform preparations to restart operations and restore trading services for users “within 10 business days of the scheme taking effect.”

WazirX Creditor Voting Results and Process

The voting process, coordinated by parent entity Zettai Pte Ltd., was conducted through Kroll Issuer Services between July 30 and August 6, with eligibility restricted to account holders maintaining positive balances as of July 18, 2024.

A total of 149,559 creditors representing $206.9 million in validated claims took part in the process.

Among all participants, 143,190 creditors representing $195.7 million endorsed the proposal, exceeding the statutory thresholds established under Section 210(3AB) of the Singapore Companies Act 1967.

WazirX highlighted the results across social media platforms, disclosing that precisely 95.7% of participating Scheme Creditors backed the Amended Scheme of Arrangement.

The cryptocurrency exchange stated that “this outcome reaffirms the strong support shown in the first round of voting and reflects our community’s continued confidence in the restructuring plan.”

The restructuring framework proposes asset distribution through Zanmai India, which operates under India’s Financial Intelligence Unit oversight, designed to maintain transparency and regulatory compliance.

Following court acceptance of the filing, Zettai will notify creditors via official communications, including copies of the relevant legal documentation.

This represents the second restructuring vote to advance after the Singapore Court previously dismissed the initial proposal.

Although the first plan also received majority creditor support, judicial authorities expressed concerns regarding the proposal’s equity and practical viability.

During that period, the exchange faced criticism from frustrated creditors who alleged fraudulent behavior due to extended delays.

The platform initially committed to asset redistribution by February 2025, leading many to suspect the exchange was exploiting legal complications to postpone user repayments.

Subsequently, in June, WazirX filed for reconsideration, and the court permitted additional arguments while extending the protective moratorium.

By August 2025, judicial authorities mandated a second vote on the modified restructuring scheme, providing WazirX another opportunity to advance its proposal.

WazirX Creditors Uncertain About Recovery Timeline of Funds

A disaster occurred in July 2024 when the WazirX platform suffered a cyberattack allegedly orchestrated by North Korea’s Lazarus Group, based on intelligence from the U.S. Department of State.

The incident resulted in losses exceeding $230 million, representing 45% of the platform’s total $500 million in holdings.

WazirX’s Singapore-registered parent company, Zettai Pte Ltd, immediately pursued creditor protection and received a four-month moratorium from Singapore’s High Court in September 2024, providing time to develop a comprehensive restructuring strategy.

Despite the positive voting outcome, WazirX customers remain skeptical about fund recovery prospects.

In February, the cryptocurrency exchange disclosed that reimbursements might face delays, potentially extending until 2030, contingent on the restructuring scheme’s final approval status.

The company’s communication outlined dual scenarios, one pathway if the restructuring gains approval and an alternative if rejection occurs.

Based on WazirX’s published framework, successful restructuring would enable systematic repayment scheduling, allowing creditors to recover assets more efficiently.

However, if the scheme faces rejection, creditors might endure prolonged uncertainty while the company’s ownership disputes remain unresolved.

If WazirX proceeds to liquidation, creditors may experience reduced recoveries due to liquidation expenses and the absence of recovery enhancement mechanisms.

The company also warned that extended proceedings could result in creditors missing future market appreciation, as asset values may diminish by the time of final distribution.

The Securities and Exchange Commission (SEC) delayed decisions on nine crypto exchange-traded fund (ETF) applications on Aug. 18.

The delays extended review periods for products related to digital assets, spanning Bitcoin, XRP, Litecoin, and Dogecoin. The reason is likely the agency’s work to establish a comprehensive digital asset framework.

The postponements affect Truth’s spot Bitcoin and Ethereum ETF, CoinShares’ spot Litecoin ETF, and multiple XRP ETF applications from 21Shares, CoinShares, Bitwise, Canary, and Grayscale. 

The SEC also delayed 21Shares’ staking proposal for its spot Ethereum ETF and Grayscale’s spot Dogecoin ETF application.

Except for Truth’s filing, the delayed products all have final deadlines for October.

Framework strategy is a priority

Bloomberg ETF analysts Eric Balchunas and James Seyffart suggested in July that the delays reflect the SEC’s strategy to establish approval criteria before greenlighting individual applications. 

Seyffart stated that this “might be the SEC’s way of stalling these things from becoming ETFs before they develop a digital assets ETF framework.”

He added that the framework would create “some sort of generic listing standard for what digital assets are allowed in an ETF wrapper and what criteria they’ll use.” 

The approach mentioned aims to replace the current case-by-case review process, which requires each crypto ETF to secure a Commission order before listing.

The SEC has been reportedly collaborating with US exchanges since July on generic listing standards for token-based ETFs that would eliminate individual rule-change requests.

Generic approach

The proposed system would allow ETF sponsors to bypass the customary Form 19b-4 process when underlying tokens meet predetermined criteria.

Under the proposed framework, sponsors would submit registration statements on Form S-1, observe standard 75-day review periods, and list products once waiting periods conclude. 

Market capitalization, on-exchange trading volume, and daily liquidity rank among the metrics under discussion.

Seyffart called the generic standard approach “very good news for the crypto ETF space,” arguing it would offer “clear rules of the road.” 

Balchunas described the concept as “what everyone wants, what makes sense, and what we think will happen.”

As a result, the first altcoin-related ETF approvals might likely start only in October.

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On July 17, the US House of Representatives voted 308-122, in favour of the Genius Act. This law is currently heading towards the president Trump’s The desk potentially sets the stage for the first clear federal rules regarding digital tokens for dollar pegs.

Stablecoins are in the spotlight

Genius act I’ll layout it a Simple Rules: All Stablecoins must provide one-to-one support for cash or liquid assets. and Issuers must create these reserves public. Supporters say This helps prevent another terra-style meltdown give US users use coins whenever possible actually trust.

Tomorrow Friday at 2:30pm EST

The moments of history are recorded for history

Signing ceremony for industry leaders and lawmakers is there to witness Trump

Signing the Genius Act https://t.co/ixrrl0a92y pic.twitter.com/pjjlqxlveo

– Majeed July 17, 2025

Movement too answer Increased pressure from Crypto supporters ask For clearer rules Around it Transparency and security.

3 invoices, 1 big push

Stablecoin Bill is part of a wider package. Alongside the Genius Act, the House has passed the Clarity Act and the CBDC Surveillance National Act. By giving Clarity Act more control over the crypto market to the CFTC, the CBDC bill aims to block the Federal Reserve’s digital dollar efforts. Republicans have moved all three forward while they’re doing Called “Crypto Week,” A set of coordinated legislative measures aimed at rewriting Country An approach to digital assets.

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Trump’s Cryptographic Pivot

President Trump is openly supporting him Crypto Over the last few months, he has revealed what he wants look It is led by the United States. Signing a genius act will help him to show a follow-through to that message.

24 hours7d30D1Yeverytime

It’s in contrast to the previous one Administration A more cautious approach is hard to overlook, and Trump has embraced crypto policy as a wedge issue heading into election season.

Not everyone It’s for sale

Not everyone praises it. Representatives like Maxine Waters and Elizabeth Warren, building Lack of stronger protections. They also flagged potential conflicts of interest, noting that some members of the Trump family have connections with crypto companies. Meanwhile, trade groups see the bill as a welcome signal that Washington is willing to engage rather than ultimately limit it.

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The Senate is still playing

The Genius Act has already passed the Senate, but the other two bills still need to clear that room. The big question now is whether Senate leaders will track them quickly or if they’ve got stuck. in any case, The results can determine how much regulatory clarity the crypto market will become Get it before the next election.

What the market thinks

Traders saw this coming. Bitcoin was already stable when the bill was passed prior to the vote. Analysts say the next stage will depend on what happens in the Senate. Congress continues and when the president signs all three bills, it opens the door to new capital flowing into space. especially From the institution that stayed on the bystanders.

I’ll summarise that

The act of genius could be the beginning of a new phase in US crypto policy. It sets precedents on stubcoin, indicating that lawmakers are beginning to take digital assets seriously. but The actual test will be what happens next and whether the Senate and the White House will be able to do turn around This momentum towards lasting law.

Discover: 20+ Next Cryptocurrency to Explode in 2025

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The Dubai Financial Services Authority (DFSA) granted regulatory approval to QCD Money Market Fund (QCDT), making it the first tokenized money-market fund with an official set-up in the Dubai International Financial Centre (DIFC), according to Qatar National Bank (QNBK), while DMZ Finance, the companies behind the fund.

The fund’s investment strategy and asset origination is led by Qatar National Bank while DMZ Finance provides the technology underpinning its digital architecture, the companies said in a statement shared with CoinDesk.

The regulatory approval serves as evidence of Dubai and the Middle East’s growing role as a hub for compliant digital asset finance, particularly in the tokenization market. According to a joint report by Ripple and BCG, the global market for tokenized RWAs is projected to surge to $18.9 trillion by 2033, with jurisdictions like Dubai and Doha emerging as early leaders of this transformation.

“As the Middle East rapidly emerges as a global hub for financial innovation, the successful deployment of QCDT further consolidates QNB’s leadership in the regional financial ecosystem and reflects our long-term vision to shape the next generation of financial infrastructure,” Silas Lee, CEO of QNB Singapore, said in the statement.

The fund, launched to bring traditional assets, such as U.S. Treasuries, on-chain, aims to serve a broad spectrum of institutional applications, including bank-eligible collateral, stablecoin backing, exchange reserves and Web3 payment infrastructure. With its regulatory compliance, yield stability and on-chain transparency, the backers say they expect it to catalyze adoption across both financial and crypto-native institutions.

“Tokenization of real-world assets is no longer experimental — it is foundational,” said Nathan Ma, co-founder and chairman of DMZ Finance. “Our goal at DMZ is to provide the connective tissue between traditional markets and the digital asset ecosystem, particularly in regions ready for innovation.”

DMZ Finance is a Singapore-based fintech company focused on the tokenization and custody of real world assets

. The QNB Group was established in 1964 as Qatar’s first Qatari-owned commercial bank, with 50% ownership held by the Qatar Investment Authority.

Over 70% of US crypto investors approve of President Donald Trump’s administration’s approach to crypto policy, according to a recent survey conducted by research firm HarrisX. 

HarrisX polled 1,096 adults online from June 18 to June 19, including 230 self-identified crypto investors.

Among that cohort, 81% said they follow the administration’s crypto actions, 73% approved of the policy track, and 71% judged those measures beneficial to the investment case for digital assets. 

Meanwhile, roughly 49% of all retail investors described the impact as positive, while 19% were unsure, and 17% viewed the policy mix as negative.

The poll’s margin of error was measured at plus or minus 6.5% for the crypto-investor subsample and plus or minus 3% for the general adult population.

Influence on allocation decisions

The report found that 64% of US crypto investors and 40% of retail investors stated that the administration’s policy makes them more likely to add digital assets to their portfolios. 

The intent lines up with a broader rise in risk appetite, as 82% of crypto investors consider the current environment a good entry point, up 9% from a March benchmark. Meanwhile, 73% plan to make purchases within 30 days, a 6% increase.

Bullish views on returns also accelerated, with 60% now expecting prices to rise over the next month, up 6% from March. Furthermore, 68% expect gains over the next 12 months, a 7% increase.

These outlook shifts accompany growing approval across other policy categories, but crypto remains the strongest area, producing a net approval score of +56%. By comparison, the survey recorded a 48% increase in reducing government costs and a 39% increase in the economy.

Segmentation and awareness gaps

The awareness of policy details among crypto investors far outpaces that of the general market. Roughly 81% of crypto investors said they were familiar with the policies, compared to 47% of all retail investors and 34% of the broader public.

HarrisX said the disparity highlights an opportunity for education campaigns targeting investors who remain undecided about the regulatory climate.

While 63% of crypto investors approved of the president’s overall performance in March, that figure climbed to 72% in June, mirroring gains in market sentiment.

HarrisX collected responses through multiple opt-in web panels and weighted the results to achieve demographic balance across age, gender, region, race, and income.

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The U.S. Securities and Exchange Commission’s leaders are reviewing the agency’s recent approval of a Grayscale effort to convert a fund into an exchange-traded fund (ETF), a letter dated July 1 said.

The SEC allowed Grayscale to uplist the Digital Large Cap Fund (GDLC), which holds $755 million in bitcoin

, Ethereum , XRP , Solana and Cardano , into an ETF through delegated authority — meaning the SEC’s commissioners did not vote to approve the conversion, but rather agency staff gave the sign-off.

“This letter is to notify you that, pursuant to Rule 431 of the Commission’s Rules of Practice, 17 CFR 201.431, the Commission will review the delegated action,” the letter, addressed to the New York Stock Exchange, said. “In accordance with Rule 431(e), the July 1, 2025 order is stayed until the Commission orders otherwise.”

The SEC said it would let the NYSE know “of any pertinent action taken by the Commission.”

Any commissioner can ask that an SEC action be reviewed. In the past, commissioners have asked to review ETF disapprovals, for example. The letter did not indicate which commissioner or commissioners asked for the review.

GDLC is benchmarked to CoinDesk’s CoinDesk 5 Index.

Spokespeople for Grayscale and the NYSE did not immediately return a request for comment.

An SEC spokesperson declined to comment on the letter.

UPDATE (July 2, 2025, 20:05 UTC): Adds additional detail, SEC declining to comment.

Leading analysts at Bloomberg ETF, Eric Bartunas and James Seyfert believe that the approved U.S. Securities and Exchange Commission (SEC) odds for the Spot Exchange Commission (ETF) for Solana, Litecoin and XRP have skyrocketed to an unprecedented 95% in 2025.

Could this be a transformational moment for altcoins and open a flood for institutional and retail investors seeking regulated exposure beyond Big 2 Bitcoin and Ethereum?

On June 30, 2025, Seyffart took him to X and said the duo was hoping for a “new wave of ETFs in the second half of 2025.”

The first US Solana Staking ETF will be released tomorrow, June 2, 2025. In particular, decisions for over 70 Crypto ETFs remained behind.

With the exception of CFTC-approved futures, we are trying to figure out what can enter the SEC framework, except we have looked into some potential data points. In this link for Bloomberg Terminal Client you can see the whole note and our midlife outlook: https://t.co/7c0bo3oei3 pic.twitter.com/y9cccdnagf

– James Seyfert (@jseyff) June 30, 2025

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“The SEC is preparing for a wave of new crypto ETFs,” a Bloomberg analyst said.

Balchunas and Seyffart’s optimism is rooted in changing regulatory attitudes and increasing market maturity. A June 1, 2025 analysis shared by X suggests that the SEC is preparing for a “new wave of cryptographic ETFs” in the second half of 2025.

On July 1, 2025, Balchunas went to X and said “.”Tuttle (Capital Management) submitted an amendment on July 16th to change the effective date of a doubled bundle of Crypto/Meme ETFs. It doesn’t mean they will start up, but usually effective dates are the same as when the ETF is started up. $ ssk Go to MKT and you’ll see others pushing. We see THO. ”

Tuttle has submitted an amendment that will change the effective date for the double Crypto/Meme ETF bundle to July 16th. It doesn’t mean they will start up, but usually effective dates are the same as when the ETF is started up. $ ssk Go to MKT and you’ll see others pushing. We meet tho. pic.twitter.com/ioskgid6gg

– Eric Balchunas (@ericbalchunas) July 1, 2025

Furthermore, he turned his attention to the related multi-layered controversy, he said, “Rex Solana ETF $ ssk (the launch of TMRW) sparked the Polymerk controversy. In the comments, the comments are angry. Polymarket had to weigh it and say it was important. ”

Rex Solana ETF $ ssk (the launch of TMRW) sparked the Polymerk controversy. In the comments, the comments are angry. Polymarket had to weigh it and say it was important. pic.twitter.com/cfrsf52fjz

– Eric Balchunas (@ericbalchunas) July 1, 2025

Explore: 9+ Best High Risk, High Release Crypto Buy in July 2025

Crypto ETF attracts net inflows of $3.69 billion

Investors poured a whopping $3.69 billion in net inflow into crypto ETFs. Importantly, this marks the first month of positive net inflows in 2025.

Additionally, cumulative net inflows for 2025 reached $5.99 billion by the end of April, marking the second highest record. The figure follows a record $42.333 billion, more than the 2024 record $2.69 billion.

There are 304 cryptographic ETPs with a global list of 756. Interestingly, April alone has introduced 23 new digital assets ETPs.

Global assets (AUM) under the control of Crypto ETFS were $1462.7 billion at the end of April. This was the fourth highest level ever. This is just below the SE’s all-time high of $1709.4 billion in January 2025.

Despite the new capital inflow, Crypto ETF AUM fell 3.8% from $1521 billion at the end of December 2024.

Explore: Top 20 Cryptos to Buy in July 2025

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Senator Cynthia Lummis revealed on June 30 that she would introduce an amendment to add crypto tax language to the “One Big Beautiful Bill” (OBBB) amid pushes from crypto advocates in the same direction.

Lummis posted on X that she is drafting an OBBB amendment “to ensure Americans can use digital assets without fear of tax violations.” She added: 

“For years, miners and stakers have been taxed TWICE. Once when they receive block rewards and again when they sell it. It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower.” 

The proposal revives earlier bipartisan efforts to exempt small gains on everyday transactions. 

Matthew Pine, executive director of the Bitcoin Policy Institute, asked supporters to email or call senators and request “a narrowly tailored Bitcoin de minimis tax exemption.” 

According to Pine’s suggested script, the current rules require users to compute capital gains on minor purchases, a record-keeping burden that “discourages fair compliance and everyday adoption.”

Timing of taxation for block rewards

Dennis Porter, chief executive of the Satoshi Action Fund, focused his outreach on mining and proof-of-stake earnings. 

He told callers to explain that those rewards “are taxed once as ordinary income when they’re created, then again as capital gains when they’re sold.” 

Porter’s proposed fix would tax rewards only at disposition, aligning them with self-generated property such as farm produce. 

Colin McLaren of the Solana Policy Institute echoed the appeal, stating that Congress and the Senate Finance Committee “need to clarify key digital asset tax issues around staking” and should incorporate Lummis’s language to “unlock the future of innovation.”

Lobbying coordination intensifies

Cody Carbone, CEO of the Digital Chamber lobbying group, amplified the message in a post.

He said that taxes on block and staking rewards should be applied at sale instead of creation, adding that legislation should treat these rewards as “created property.”

Carbone’s call added the Digital Chamber’s membership to a coalition that now includes Bitcoin policy advocates, proof-of-stake supporters, and general crypto trade groups. All scripts emphasize courtesy and brevity when speaking with congressional offices.

Supporters view this week’s committee negotiations as a narrow window to attach digital asset provisions before the bill reaches the Senate floor. 

They argue that the combined de minimis exemption and block reward timing fix would streamline individual reporting, reduce compliance costs, and keep validation activity in the US. 

Senate staff have not released the draft text, and negotiators have not indicated whether the two issues will be advanced together or separately.

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