ARK Buys $162M of Shares in SOL Treasury Company Solmate, Formerly Brera Holdings
ARK Invest made an immediate splash on the latest publicly listed digital asset treasury company, buying just under $162 million worth of shares in Brera Holdings (BREA).
The Nasdaq-listed sports club owner rebranded as Solmate as part of plans to build a digital asset treasury based on Solana's sol (SOL) token, raising $300 million from United Arab Emirates-based Pulsar Group, according to a Thursday announcement.
As it often does, Cathie Wood's investment firm got in on the ground floor, 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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Stablecoin Legislation Booms Globally, Why Is China Taking the Opposite Approach? An Article to Understand the Real National Strategic Choices
Amid the global surge in stablecoin legislation, China has chosen to firmly curb stablecoins and other virtual currencies, while accelerating the development of the digital yuan to safeguard national security and monetary sovereignty. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
Liquidity migration begins! Japan becomes the Fed's "reservoir," 120 billions in carry trade returns set to ignite the December crypto market
The Federal Reserve has stopped quantitative tightening and may cut interest rates, while the Bank of Japan plans to raise rates, changing the global liquidity landscape and impacting carry trades and asset pricing. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.
Weekly Hot Picks: Bank of Japan Sends Strongest Rate Hike Signal! Is the Copper Market Entering a Supercycle Rehearsal?
The leading candidate for Federal Reserve Chair is being questioned for potentially "accommodative rate cuts." Copper prices have reached a historic high, and a five-hour meeting between the United States and Russia ended without results. Expectations for a Japanese interest rate hike in December have surged, and Moore Threads' stock soared more than fivefold on its first day... What market moves did you miss this week?
Monad Practical Guide: Welcome to a New Architecture and High-Performance Development Ecosystem
This article will introduce some resources to help you better understand Monad and start developing.
Trending news
MoreCrypto prices
More
