Ark Invest Backs Nasdaq-listed Solmate’s $300M Solana Treasury

Cathie Wood’s Ark Invest has joined a $300 million private placement that will rebrand NASDAQ-listed Brera Holdings (BREA) as Solmate. The oversubscribed round will fund the launch of a Solana-based digital asset treasury (DAT) and expand crypto infrastructure in the UAE.

Solmate Builds $300M Solana Treasury With New Leadership Appointments

According to a press statement, the investment was led by UAE-based Pulsar Group, with support from RockawayX and the Solana Foundation. Solmate will accumulate and stake Solana tokens ($SOL) while building new infrastructure designed to generate yield for investors.

Marco Santori, former Chief Legal Officer at Kraken, will lead the company as CEO. Santori is a pioneer in digital asset treasuries and helped launch one of the first altcoin treasuries on Nasdaq. He described Solmate as “not just another treasury” but a builder of real infrastructure in the UAE.

The new board will feature prominent names. Economist Dr. Arthur Laffer, inventor of the “Laffer Curve,” will serve as a director. Viktor Fischer, CEO of RockawayX and early Solana backer, also joins the board. The Solana Foundation will appoint two additional members. Solmate could also follow the path of another Solana treasury firm, SOL Strategies, which recently received NASDAQ-listing approval.

Part of the funds will support bare metal servers in Abu Dhabi. These validators are designed to outperform traditional strategies, giving local investors access to Solana’s native yields in the Middle East. Pulsar Group CEO Alyazi Al Khattal said Solmate will place Solana at the center of the UAE’s digital transformation agenda.

DeFi Development Expands Treasury Accelerator as Solana Price Gains Momentum

At the same time, another Nasdaq-listed company is pushing Solana’s treasury model further. In a press release, DeFi Development Corp. (NASDAQ: DFDV) announced an expansion of its Treasury Accelerator program. The firm will begin deploying between $5 million and $75 million per vehicle into other digital asset treasuries worldwide.

DeFi Development Corp. expects these commitments to be funded in cash or in-kind Solana. Any gains will be reinvested into more $SOL, compounding its treasury holdings. CEO Joseph Onorati said the goal is to back the most promising treasuries and grow Solana per share for shareholders.

The company already operates its own validator infrastructure and earns staking rewards. The growth indicates increased use of treasury models by public-traded firms.

Solana price increased following the announcements. According to TradingView data, SOL increased to $246.93. Corporate treasuries are holding 15.83 million SOL tokens, equivalent to nearly $4 billion, according to data from Strategic Solana Reserve. This constitutes 3% of the total Solana in circulation and indicates that institutions are gaining more confidence in SOL.