SOL Strategies, a Solana-focused treasury and infrastructure firm, will provide staking services for VanEck’s upcoming Solana exchange traded fund, the company announced Monday. VanEck selected the firm to stake the SOL held within the ETF, which recently filed its Form 8 A with the U.S. Securities and Exchange Commission.
The staking operation will run through Orangefin, a validator SOL Strategies acquired in December. The company currently manages ISO 27001 and SOC 2 certified validator infrastructure that secures more than CAD$610 million (about $437 million) in staked assets.
Kyle DaCruz, VanEck’s director of digital asset products, said SOL Strategies’ experience and institutional focus made the firm a strong fit for the ETF’s staking needs. SOL Strategies said the partnership helps advance its mission of connecting traditional finance with decentralized, high performance Solana infrastructure. Interim CEO Michael Hubbard added that the selection highlights growing institutional interest in compliant staking solutions.
SOL Strategies, based in Toronto, rebranded from Cypherpunk Holdings last year as it shifted its focus toward supporting and investing in the Solana ecosystem. The company holds roughly 524,000 SOL in its treasury, according to its website. Its shares trade on the Canadian Securities Exchange under the ticker HODL and on the Nasdaq Capital Market under STKE. As of last Friday’s close, HODL fell 5.85 percent to CAD$3.38, while STKE declined 6.23 percent to $2.41.
The partnership comes as Solana ETFs continue gaining traction in the United States. Two products, Bitwise’s BSOL and Grayscale’s GSOL, have already launched and attracted a combined $382 million in inflows since BSOL’s debut on October 28.
