ARK Make investments doubled down on the most recent publicly listed digital asset treasury firm, shopping for just below $162 million price of shares in Solmate (BREA) after participating within the firm’s $300 million funding spherical.
The Nasdaq-listed sports activities membership proprietor raised the cash and rebranded from Brera Holdings as a part of plans to construct a digital asset treasury primarily based on Solana’s sol (SOL) token. Ark Make investments joined United Arab Emirates-based Pulsar Group within the fundraise, which additionally included RockawayX and the Solana Basis, in accordance with a Thursday announcement.
As it typically does, Cathie Wooden’s funding agency received in on the bottom ground buying digital asset treasury agency shares, including a complete of 6.5 million BREA shares to a few of its exchange-traded funds: Innovation (ARKK), Subsequent Technology Web (ARKW) and Fintech Innovation (ARKF), it stated in an emailed disclosure on Friday.
From buying and selling at $7.40, BREA jumped as excessive as $52.95 earlier than pulling again to shut at $24.90, a achieve of over 225% on the day.
SOL has ascended to its highest worth ranges since January this week, eclipsing $250 on Thursday. It was lately buying and selling round $244, a rise of over 20% this month.
UPDATE (Sept. 19, 10:12 UTC): Provides that ARK joined the funding spherical in Solmate in headline, first paragraph, different individuals in second paragraph.
