The company, which has been aggregating Solana’s SOL, wants to enter the U.S. market.
Cantor initiated coverage of SOL treasury companies DFDV, UPXI and HODL with an 'overweight' rating.
Last month, Sol Strategies secured a $500 million convertible note facility to acquire more SOL cryptocurrencies.
The company's "Opening Bell" platform lets SEC-registered shares trade on-chain, bridging crypto and public equity markets.
The Canadian firm is betting on Solana by using debt financing to scale its validator footprint and crypto holdings.
Nasdaq-listed DeFi Development Corporation also announced Wednesday that it purchased around 65,305 SOL, bringing its total to 317,273 SOL.
The Toronto-listed firm said it will use the capital to buy more SOL and expand its Solana validator business.
The Solana infrastructure firm now holds over 267,000 SOL, with nearly all of it staked across its growing validator network