cpeditorARK Invest has strengthened its position in Solmate (BREA), purchasing nearly $162 million in shares after participating in a $300 million funding round alongside UAE-based Pulsar Group.
Solmate Rebrands and Raises Capital
The Nasdaq-listed sports club owner, formerly known as Brera Holdings, rebranded as Solmate as part of plans to establish a digital asset treasury built around Solana’s SOL token. The funding round also included contributions from RockawayX and the Solana Foundation, according to a Thursday announcement.
Cathie Wood’s ARK Invest acquired 6.5 million BREA shares, which were allocated across three of its ETFs: ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF). This move reflects ARK’s strategy of supporting emerging digital asset treasury companies from early stages.
Market Performance
BREA shares jumped from an opening price of $7.40 to a high of $52.95 before settling at $24.90, marking a 225% gain on the day.
Meanwhile, Solana (SOL) reached its highest levels since January, surpassing $250 on Thursday and trading near $244, up over 20% for the month.
The transaction underscores ARK Invest’s ongoing commitment to Solana-linked digital asset initiatives and highlights the growing institutional interest in altcoin-focused treasury companies.
