Skip to content
- ARK Invest adds Solana to its portfolio via Canada’s SOLQ ETF, marking its first direct entry into the altcoin’s ecosystem.
- Cathie Wood shifts focus from Bitcoin and Ethereum, signaling rising institutional confidence in Solana’s staking model.
- With U.S. spot ETFs still pending, ARK’s move into SOLQ may set a trend for other American firms seeking Solana exposure.
ARK Invest, headed by Cathie Wood, entered the Solana market by establishing a direct stake, which represents a fundamental change in its crypto strategy. The SOLQ ETF, a Canadian-based staking fund, enabled Solana Floor to acquire SOL through its purchases.
ARK introduces Solana into its holdings as the first investment outside its historical focus on Bitcoin and Ethereum. ARK’s domestic funds, represented by ARKF and ARKW, have integrated SOL into their investment portfolios by using foreign ETFs.
Canadian investors can now access SOL staking rewards through the SOLQ ETF, which started operations early this year. The system targets institutional clients who want to access Solana market exposure through a convenient solution that bypasses the technical requirements of blockchain management.
ARK invested because its blockchain division pursues networks that demonstrate scalability and energy efficiency. Solana, which operates on a proof-of-stake mechanism, offers significantly faster transaction speeds and lower fees compared to Ethereum.
Cathie Wood revealed to CNBC last January that Solana offers faster and more efficient blockchain processing than Ethereum. SOL positions demonstrate Wood’s increasing confidence in Solana as a long-term blockchain network.
ARK’s Solana Exposure May Pave the Way for Other U.S. Funds
While the U.S. Securities and Exchange Commission has not yet approved a spot Solana ETF, the Canadian SOLQ fund has become an attractive option. The SOL investment fund utilized by ARK might cause additional American financial institutions to develop international investment vehicles.
The way the investment has been timed stands out. The cryptocurrency market shows Solana increasing by 29.5 percent through CoinGecko data within the last fourteen days. ARK’s market announcement about its Solana investment triggered little change in SOL price during the first hour after the news came out.
ARK Invest rejected its plans to create Ethereum ETFs despite showing prior interest in Ether’s long-term market value. ARK’s pivot toward developing blockchain ecosystems rests on its buyouts of Solana and its previous focus on Ethereum ETFs.
By acquiring Solana tokens, ARK made a significant move towards investing in various cryptocurrency assets. The rise in institutional fascination with blockchain platforms, which provide quick operations, efficient services, and profitability through staking, reveals their significance.
Also Read: Kraken Exchange Enables BNB Trading Pairs Ahead of April 22 Listing
