Cathie Wood’s firm bets big on Solana-focused treasury company
ARK Invest, the asset management firm led by Cathie Wood, has purchased $162 million worth of shares in Solmate, a newly rebranded Nasdaq-listed company formerly known as Brera Holdings. The move comes as Solmate outlines an ambitious plan to build a digital asset treasury centered on Solana (SOL).
Solmate’s $300M Solana Treasury Backed by UAE’s Pulsar Group
Brera Holdings, previously a sports club ownership firm, officially rebranded as Solmate to pivot its business strategy toward blockchain. The company secured $300 million in funding from UAE-based Pulsar Group, earmarked specifically to acquire Solana’s native token.
The rebrand signals a transformation from traditional sports ownership to becoming a major corporate player in crypto asset management, with a particular focus on Solana’s growing ecosystem.
ARK Invest Scoops Up 6.5 Million Shares
ARK disclosed that the investment was spread across three of its exchange-traded funds (ETFs):
- ARK Innovation (ARKK)
- ARK Next Generation Internet (ARKW)
- ARK Fintech Innovation (ARKF)
Altogether, ARK purchased 6.5 million BREA shares, reflecting its strategy of gaining early exposure to high-growth digital asset companies.
The market responded with extraordinary volatility. BREA shares soared from $7.40 to a peak of $52.95 during intraday trading before closing at $24.90, still up 225% on the day.
This sharp rally underscored investor enthusiasm for Solmate’s pivot and ARK’s vote of confidence, though the retracement highlighted ongoing volatility in crypto-linked equities.
Solana Price Momentum Adds to Hype
Meanwhile, Solana itself has been on a strong upward trend. SOL crossed $250 this week, its highest level since January, and was last trading around $244 — up more than 20% this month.
The combination of institutional backing from ARK and Solana’s price momentum has fueled optimism that Solmate could become a cornerstone player in crypto treasury strategies.
With ARK Invest’s track record of backing disruptive technologies, the firm’s large-scale buy-in signals rising institutional interest in Solana-based digital asset treasuries. If successful, Solmate could pave the way for more publicly traded companies to diversify into crypto assets beyond Bitcoin and Ethereum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.