What is SOL Strategies Inc. (HODL)

SOL Strategies Inc. is a Canadian publicly traded company focused on investing in the Solana ecosystem. Formerly known as Cypherpunk Holdings, it completed its name change in 2024. Currently, the company participates in the on-chain economy by operating validation nodes, staking SOL for rewards, and investing in early projects within the Solana ecosystem. Its stock is traded on the Canadian Securities Exchange (CSE) under the code HODL, and also trades on the US OTC market as CYFRF.

Latest Price and Performance

As of July 11, 2025, the price of HODL stock on the CSE is approximately CAD 2.11, with an intraday increase of over 2%; the trading price on the OTC market is about USD 1.55. Year-to-date, HODL has achieved an increase of over 1400%, making it one of the best-performing Web3-related stocks in North America.

HODL’s business structure

The business of SOL Strategies consists of three parts. Firstly, the company holds a large amount of SOL and stakes it to earn annual yields. Secondly, the company operates a validator node on the Solana network, earning block rewards from the network. Lastly, the company invests in early projects within the Solana ecosystem, such as decentralized infrastructure, DeFi platforms, and NFT tools, providing opportunities for future equity and token returns.

This structure makes HODL not just a cryptocurrency holding company, but more like a hybrid asset manager in the crypto space.

How Newbies can buy HODL stocks

Canadian users can directly search the code “HODL” for trading using brokers like Questrade and Wealthsimple. U.S. users can buy through the code “CYFRF” on platforms that support OTC. Users from other countries are advised to use brokers that support international securities, such as Interactive Brokers. It is important to note that due to its relatively small market capitalization, liquidity is generally average, making it unsuitable for frequent short-term trading.

What is the difference between HODL and crypto ETFs?

For newbies, many might wonder: Can I just buy a crypto ETF directly? Actually, that’s not the case. Unlike regular crypto ETFs that only track a certain token (like BTC or SOL), HODL is a company that truly participates in the on-chain economy. It not only holds tokens but also earns stable income through validators, participates in early ecosystem projects, and opens its assets to investors in the form of stocks. This means its sources of income are more diverse, the long-term profit potential is stronger, and it is closer to the underlying logic of Web3.

What are the risks? Is it suitable for long-term holding?

HODL belongs to small-cap stocks, has high volatility, and is very sensitive to market sentiment. Secondly, the company’s performance is highly dependent on the market performance of SOL. If Solana encounters technical issues or its ecosystem shrinks, the company’s revenue will decline significantly. In addition, the current valuation already has a certain premium, and continued growth will rely on the sustained upward trend of Solana.

However, structurally, HODL has verification nodes, stable staking yields, and ecological growth potential, possessing the ability for long-term value accumulation. For investors optimistic about Solana, this is a low-threshold, compliant way to participate without the need to manage a wallet.

Summary

If you want to participate in the crypto market but are not familiar with wallets or on-chain operations, SOL Strategies Stock is a noteworthy target. It not only connects the traditional stock market with the crypto ecosystem but also offers dual opportunities for stable returns and growth potential. As a Newbie, it is recommended to build positions in batches, hold for the long term, and regularly pay attention to the company’s disclosed asset structure and financial reports.