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17h ago

Solmate Debuts With $300 Million Solana Treasury After ARK Discloses $162 Million Stake

The pivot centers on SOL staking with Abu Dhabi validators, with token access from the Solana Foundation still only outlined in a letter of intent.

Solmate bets $300M on SOL treasury - Is Solana's ‘institutional moment’ finally here? 
Photo: Marco Bello
ARK Invest, Solana Foundation back new $300M Solana digital asset treasury Solmate
In this photo illustration a Solana logo seen displayed on a smartphone with binary code on a laptop screen

Overview

  • Brera Holdings rebranded as Solmate after an oversubscribed $300 million PIPE led by UAE-based Pulsar Group with backing from ARK Invest, RockawayX and the Solana Foundation.
  • ARK Invest said it bought just under $162 million of BREA shares across ARKK, ARKW and ARKF in a Friday disclosure.
  • BREA shares spiked sharply on the news, hitting intraday highs before closing up more than 225% on Thursday.
  • Marco Santori, formerly Kraken’s chief legal officer, was named CEO, with economist Arthur Laffer and RockawayX’s Viktor Fischer joining a board that will also include two Solana Foundation appointees.
  • Solmate plans to accumulate and stake SOL and deploy bare‑metal validators in Abu Dhabi, as institutional Solana treasuries expand with recent raises by Forward Industries ($1.65B) and Helius ($500M).