- ARK Invest expands its crypto portfolio by adding Solana exposure to ARKW and ARKF ETFs.
- Solana staking yields now accessible through 3iQ’s SOLQ ETF, diversifying ARK’s investments.
- In March, Solana-based ETFs launched, hinting at a shift towards proof-of-stake investments.
ARK Invest has expanded its cryptocurrency exposure by adding Solana (SOL) to two of its exchange-traded funds (ETFs). The ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) have acquired shares in 3iQ’s Solana Staking ETF (SOLQ). This move represents a strategic shift for the asset manager.
As of April 21, ARK’s two funds include SOLQ, a Canadian ETF that provides exposure to staked Solana. The SOLQ ETF enables investors to earn staking yields from Solana without requiring direct asset management. This move marks ARK’s entry into the world of proof-of-stake assets, a departure from its previous focus on Bitcoin and Ethereum.
Related: Is Solana Set to Overtake Ethereum in 2025? A Record-Breaking Quarter Says Yes
ARKW and ARKF Portfolio Highlights
ARKW and ARKF are two top ETFs managed by ARK Invest that concentrate on emerging innovations. The funds invested their capital in companies such as Coinbase, Block, and Robinhood, which operate in the digital currency sector. The investment in SOLQ allows ARK Invest to take a leading position among U.S. investors by providing exposure to the Solana network through its ETF offering.
However, Solana’s price did not receive a boost even after the announcement was made. As of press time, SOL is trading at $139.98, down by 0.06% over the past day. The cryptocurrency market is known for its volatility, and ARK’s move has not had the expected impact on SOL’s value. Adding SOLQ strengthens ARK’s focus on DeFi and blockchain technology in its portfolios.
Related: Spotlight on XRP, Solana as 72 Crypto ETFs Seek SEC Approval This Year
ARK Invest’s move into Solana is part of a growing trend in the cryptocurrency market. Many firms are now adopting blockchain-based staking as an additional source of revenue. It also could set the stage for even more institutional investment in the Solana ecosystem as more investors dip their toes into proof-of-stake assets.
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Source: https://coinedition.com/ark-invest-takes-the-lead-first-u-s-listed-etfs-to-add-solana-via-solq-etf/