Sol Strategies Inc, a Canadian publicly traded company dedicated to advancing the Solana blockchain ecosystem, has recently made headlines with its latest SOL buys.
Between February 7 and February 14, 2025, the company purchased 12,456 Solana (SOL) tokens for approximately USD $2.66 million, increasing its total holdings to 226,798 SOL, valued at USD $47.51 million as of February 14, 2025.
Additionally, Sol Strategies has been selected as an approved staking provider for Tetra Trust, Canada’s first licensed digital asset trust company.
This partnership enables Tetra’s institutional clients, including those linked to 3iQ’s upcoming Solana Staking ETF, to leverage Sol Strategies’ validator infrastructure through Tetra’s custody platform, enhancing institutional access to Solana staking.
Sol Strategies’ $3.59M SOL Purchase: How Bullish Is The Company?
Sol Strategies has deepened its investment in the Solana ecosystem by acquiring 12,456 SOL tokens between February 7 and February 14, 2025.
The purchase, valued at approximately USD $2.66 million, was executed at an average price of USD $212.90 per SOL, including fees and expenses. This acquisition boosts the company’s total holdings to 226,798 SOL tokens.
This move aligns with the company’s ongoing growth initiatives, capitalizing on Solana’s reputation for fast and cost-effective blockchain transactions.
As of February 14, 2025, Sol Strategies and its subsidiaries collectively hold 226,798 SOL tokens.
These assets were acquired over time for a total investment of roughly USD $43.81 million, reflecting an average purchase price of USD $193.10 per SOL, including related costs.
On that date, Solana’s closing price was USD $199.94 per SOL, and the total value of the company’s holdings reached USD $47.51 million.
This strategy results from Sol Strategies’ confidence in Solana, a blockchain platform renowned for its speed and low-cost transactions.
The company benefits from the rising prominence of decentralized applications and financial solutions built on Solana by amassing a substantial SOL portfolio.
Sol Strategies Selected as Staking Provider for Tetra Trust
In a separate milestone, Sol Strategies has been named an approved staking provider for Tetra Trust, advancing the institutional adoption of Solana staking.
Tetra Trust, regulated under Alberta’s Loan and Trust Corporation Act, is a custodian for various Canadian digital asset investment vehicles.
Through this partnership, Tetra’s institutional clients — including those associated with 3iQ’s forthcoming Solana Staking ETF — can now access Sol Strategies’ validator infrastructure within Tetra’s secure custody platform.
Staking on Solana involves SOL holders locking their tokens to support the network’s security and operations. In return, they receive rewards.
This collaboration merges Tetra’s custodial expertise with Sol Strategies’ proven staking capabilities, enhancing Tetra’s offerings.
Notably, this follows Sol Strategies’ recent appointment as the staking provider for 3iQ’s Solana Staking ETF. The ETF will also utilize Tetra’s platform, creating a cohesive ecosystem for institutional investors.
Leah Wald, CEO of Sol Strategies, emphasized the significance of this collaboration, stating,
“Being selected as a staking provider for Tetra’s platform marks another significant milestone in institutional Solana adoption. This integration creates a seamless experience for institutional clients seeking secure, regulated access to Solana staking.”
Didier Lavallée, CEO of Tetra Trust, echoed a similar sentiment, adding,
“Sol Strategies’ proven track record in institutional staking infrastructure made them an ideal addition to our platform. This integration enhances our ability to provide comprehensive digital asset services to our institutional clients.”
The partnership elevates Sol Strategies’ profile and reinforces its infrastructure leadership within the Solana network, especially as It caters to the increasing demand for staking as a yield-generating strategy for institutions in the crypto market.
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