ARK Doubles Down on Solmate, Buys $162M of Shares After Funding SOL Treasury Purchase
The Nasdaq-listed sports club owner, rebranded from Brera Holdings, raised $300 million from UAE-based Pulsar Group and Ark Invest to buy SOL tokens.
- Cathie Wood's Ark Invest firm bought just under $162 million worth of Solmate shares.
- Alongside Pulsar Group, the firm also participated in Solmate's $300 million funding round to raise money for buying SOL tokens.
- Shares of Solmate, rebranded from Brera Holdings, jumped as high as $52.95 before dropping back to close at $24.90, a gain of over 225% on the day.
ARK Invest doubled down on the latest publicly listed digital asset treasury company, buying just under $162 million worth of shares in Solmate (BREA) after taking part in the company's $300 million funding round.
The Nasdaq-listed sports club owner raised the money and rebranded from Brera Holdings as part of plans to build a digital asset treasury based on Solana's sol (SOL) token. Ark Invest joined United Arab Emirates-based Pulsar Group in the fundraise, which also included RockawayX and the Solana Foundation, according to a Thursday announcement.
As it often does, Cathie Wood's investment firm got in on the ground floor acquiring digital asset treasury firm shares, adding a total of 6.5 million BREA shares to three of its exchange-traded funds: Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF), it said in an emailed disclosure on Friday.
From trading at $7.40, BREA jumped as high as $52.95 before pulling back to close at $24.90, a gain of over 225% on the day.
SOL has ascended to its highest price levels since January this week, eclipsing $250 on Thursday. It was recently trading around $244, an increase of over 20% this month.
UPDATE (Sept. 19, 10:12 UTC): Adds that ARK joined the investment round in Solmate in headline, first paragraph, other participants in second paragraph.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
