ARK Doubles Down on Solmate, Buys $162M of Shares After Funding SOL Treasury Purchase

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.