ARK Invest Purchases Solana ($SOL ) Native Tokens, Gaining Attention in the Crypto Market
ARK Invest has made a notable move by purchasing Solana (SOL) native tokens, signaling increased institutional adoption of cryptocurrencies. This investment is seen as a symbolic shift toward blockchain assets beyond just Bitcoin and Ethereum.
ARK Invest acquired SOL through the SOLQ ETF, a staking fund launched in Canada, marking the first time SOL was included in ARK’s U.S.-based ETFs, ARKF and ARKW.
The move indicates a shift in ARK’s investment strategy, now focusing on Proof of Stake (PoS) assets like Solana, expanding beyond their traditional Bitcoin and Ethereum-heavy approach.
This action could encourage other U.S. funds to follow suit, especially as the SEC signals a potential regulatory easing on cryptocurrency ETFs. While SEC has yet to approve a U.S.-based Solana ETF, SOLQ presents a promising alternative.
Solana’s appeal is supported by 40% annual developer growth, fast transaction speeds, and lower fees compared to Ethereum. SOL's price recently surged by 29.5% in the past two weeks, reflecting growing market interest.
Despite a limited immediate price impact, ARK Invest’s commitment to Solana demonstrates confidence in its long-term value, challenging the notion that SOL is merely a speculative asset. Cathie Wood highlighted Solana as a faster and more efficient network, signaling her trust in its future potential.
