New Solana-based digital asset treasury launches with major institutional support
A major development in the digital asset sector unfolded this week as Solana Foundation and Cathie Wood’s Ark Invest joined a $300 million private placement for Solmate, a newly launched Solana-based digital asset treasury (DAT). The funding round, oversubscribed and sponsored by UAE-based Pulsar Group, highlights the accelerating adoption of Solana among institutional players.
$300 Million Placement Fuels Solmate Launch
Solmate will emerge from the rebranding of Nasdaq-listed Brera Holdings, signaling a strategic pivot into blockchain infrastructure while retaining its sports ownership business. The treasury is designed to accumulate Solana tokens at discounted rates through a definitive agreement with the Solana Foundation.
“Solmate is not just another treasury. It will execute on a durably differentiated strategy in a crowded field of look-alike DATs by building real crypto infrastructure in the UAE,” said Marco Santori, former Kraken Chief Legal Officer and now CEO of Solmate.
Institutional Confidence in Solana
Experts note that Solana’s growing prominence as the third most popular digital asset in treasury accumulation, alongside Bitcoin and Ethereum, underscores investor demand for scalable alternatives.
According to Viktor Fischer, CEO of RockawayX and a Solmate board member, “The appetite for Solana exposure reflects confidence in its technology and the broader ecosystem being built around it. Institutional demand is clearly accelerating.”
Market Impact and Dual Listing
Brera Holdings’ shares jumped 14% following the announcement, underscoring investor enthusiasm for the pivot. Solmate is also planning a dual listing on Nasdaq and in the UAE, reinforcing its ambition to become a global player in digital asset management.
The $300 million placement marks one of the largest Solana-focused treasury launches to date, cementing the token’s status as a core holding for institutions. Analysts suggest this move could further validate Solana’s long-term potential, particularly as blockchain infrastructure expands in the Middle East.
With backing from Ark Invest, Solana Foundation, Pulsar Group, and RockawayX, Solmate positions itself at the intersection of traditional finance and Web3, setting a new benchmark for crypto treasury strategies.
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.