ARK Invest Purchases $162 Million in Solmate Shares Following Solana Treasury Strategy Launch

ARK Invest purchased nearly $162 million worth of shares in Solmate, formerly known as Brera Holdings, after participating in the company's $300 million funding round aimed at creating a digital asset treasury focused on Solana's SOL token. The investment firm, led by Cathie Wood, acquired 6.5 million BREA shares across three of its exchange-traded funds on Friday following the funding announcement.

Solmate, a Nasdaq-listed sports club owner, completed its rebranding from Brera Holdings as part of its strategic pivot toward crypto treasury operations. The company raised $300 million from investors including ARK Invest, UAE-based Pulsar Group, RockawayX, and the Solana Foundation. The funding will support Solmate's plans to hold and stake SOL tokens as part of its treasury strategy. 

https://x.com/msantoriESQ/status/1968698478327902214

ARK distributed its $162 million investment across three of its flagship ETFs:

• the Innovation ETF (ARKK)
• Next Generation Internet ETF (ARKW)
• Fintech Innovation ETF (ARKF)

The purchase represents ARK's continued strategy of investing early in companies adopting digital asset treasury models.

The market responded dramatically to Solmate's announcement and ARK's investment. BREA shares opened at $7.40 and surged as high as $52.95 before closing at $24.90, representing a gain of over 225% for the trading session. The stock explosion followed the company's Thursday announcement of its Solana treasury strategy.

Solmate's treasury approach involves holding and staking SOL tokens, positioning the company to benefit from both price appreciation and staking rewards. The strategy aligns with a broader trend of public companies adding crypto assets to their balance sheets, though Solmate represents one of the first major plays specifically focused on Solana rather than Bitcoin.

The timing coincides with SOL's strong performance, with the token reaching its highest levels since January 2024. SOL eclipsed $250 on Thursday and was trading around $244 recently, marking an increase of over 20% for September. The token's rally has provided additional momentum for Solana-focused investment strategies.

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