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- Sol Strategies Inc. partners with Tetra Trust to provide secure, regulated Solana staking for institutional clients in Canada.
- The partnership aims to enhance institutional access to staking while aligning with regulatory and security standards.
If one thing is known in the cryptocurrency world, it is that quick changes can occur in a matter of days. Sol Strategies Inc., an investment company concentrated on the Solana ecosystem, just made another big move. Not only did they expand their portfolio, but they also solidified their position as a major player in Solana staking.
Sol Strategies: Major Acquisition and SOL Asset Addition
Between February 7 and 14, 2025, Sol Strategies increased their holdings by purchasing 12,456 Solana (SOL) tokens worth approximately CA$3.6 million. Their holdings right now are 226,798 SOL at an average price of CA$288.48 per SOL. Given the continuing market volatility, this action could be seen by investors as a strong vote of confidence in Solana’s future.
However, the biggest surprise came on February 14, 2025. Sol Strategies announced a Letter of Intent (LOI) to acquire one of the largest validators on the Solana network for $34 million (approximately CA$48.7 million). If the transaction closes, the total SOL delegation they manage is expected to jump to over 2.9 million SOL—equivalent to approximately CA$800 million.
Sol Strategies isn’t paying for this acquisition all at once. They’ll put down $10 million in cash upfront, then issue $12 million in shares at closing. A year later, another $12 million in shares will follow. With an expected annual income of around CA$8.6 million, this could be a calculated action to improve the company’s staking industry standing.
Partnership with Tetra Trust: New Access for Institutions
Along with the acquisition, Sol Strategies is also strengthening its network through a partnership with Tetra Trust. Focused on offering safe and regulated asset storage solutions, Tetra Trust itself is the first licensed digital asset custodian organization in Canada.
🚨JUST IN: @SOLSTRATEGIES_ PARTNERS WITH @TETRATRUST, CANADA'S FIRST LICENSED DIGITAL ASSET TRUST COMPANY, TO ENHANCE INSTITUTIONAL ACCESS TO SECURE, REGULATED $SOLANA STAKING
— BSCN Headlines (@BSCNheadlines) February 20, 2025
By means of this alliance, Tetra’s institutional clients—including 3iQ’s forthcoming Solana Staking ETF—will be able to utilize staking services of Sol Strategies with further enhanced security and regulatory compliance guarantees.
Leah Wald, CEO of Sol Strategies, underlined that this cooperation is not only a friendly one but also a means of hastening the acceptance of Solana staking among institutional investors.
The Long Road to Solana
For those who have been following the movements of Sol Strategies, their change of emphasis was not abrupt. The firm sent its fourth quarter of 2024 letter to shareholders on January 29, 2025.
In the letter, they described their change from a business mostly concerned with Bitcoin holdings to one more so in the Solana ecosystem. This significant change started with the rebranding done in September 2024.
Solana Market Dynamics and Challenges Ahead
Although Sol Strategies keeps growing in importance, the Solana market itself is facing difficulties. Reflecting a drop from mid-December, CNF previously reported trade activity on Solana DEXs hit $2.517 billion. While Meteora has had an 18.65% growth last week, certain sites such as Raydium and Orca have seen volumes dip.
However, despite these fluctuations, SOL’s price is showing signs of strengthening. At the time of writing, SOL is trading at about $176.10, up 2.64% over the last 24 hours. This increase has also pushed Solana’s market cap above the $85 billion mark.
