by Coinstrooper Crypto Articles
Quick Take
  • 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.
  • 19, 10:12 UTC): Adds that ARK joined the investment round in Solmate in headline, first paragraph, other participants in second paragraph.

What Happened

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.

UPDATE (Sept. 19, 10:12 UTC): Adds that ARK joined the investment round in Solmate in headline, first paragraph, other participants in second paragraph.

Market Context

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.