ARK Invest Acquires $162M in Solmate Shares to Build Digital Asset Treasury
- ARK Invest purchased nearly $162 million worth of shares in Solmate (BREA) following a $300 million funding round.
- The investment firm acquired a total of 6.5 million BREA shares for its exchange-traded funds, including ARKK, ARKW, and ARKF.
- Solmate plans to establish a digital asset treasury based on Solana’s SOL token.
- BREA’s stock price surged from $7.40 to a high of $52.95 before closing at $24.90, marking a gain of over 225% in one day.
- SOL reached its highest price since January, surpassing $250 earlier this week and trading around $244 with over a 20% increase this month.
This significant investment by ARK Invest highlights the growing interest in digital assets as they aim to capitalize on the potential of blockchain technology and cryptocurrencies like Solana. The rapid rise in BREA’s stock value reflects investor enthusiasm surrounding digital asset treasuries.
ARK’s acquisition of nearly $162 million in Solmate shares underscores their commitment to building a robust digital asset portfolio alongside the rising value of SOL tokens this month.(Source)
