In a move indicating more encryption by institutional investors, Cathy Wood’s ARK Invest represented the direct representation of the original Solana code (SOL).
According to tweet From Solana Floor, the investment company has purchased through Solq ETF, which is the Stokeing Fund in Canada.
This investment represents the first listing of Sol Holdings in the ARK investment funds in the United States, such as ARKF and ARKW. It is also an additional evidence of the increasing institutional interest in Blockchain.
Move’s Cathie Wood is a historical event for Solana
It was launched in Canada earlier this year, Solq ETF allows investors to earn Sol stokeing returns without the need to trade or manage their property – an attractive benefit for many. The entry of ARK to SolaNa through Solq is a hub as a large axis towards the assets of counseling, after pre -focus on bitcoin and ethereum.
This investment by Cathy Wood may lead to more US -based funds, especially since the United States of America shows signs of alleviating its registered supervision on the investment funds circulating in encryption.
With the continued approval of SEC in the United States Solana ETF, many box managers are likely to view Solqa in Canada as an applicable alternative. Thanks to the increase of 40 % in the activity of developers, speeds of rapid transactions, and significantly low fees from ETHEREM, Solana has proven to firmness itself as one of the most important performance ban.
The ARK’s Ark’s Cathie Wood investing coincides with a period of Sol’s upscarcase. According to the current data from Coingecko, the distinctive symbol gained 29.5 % in the last 14 days.
Instant market reactions
After the announcement, the Sol price did not show any major transformation yet, as only a few cents rose in the last hour when this report was written. In an interview in January 2024 with CNBC, Cathy Wood comparison Solana to Ethereum, describing it as a faster and more efficient network.
Earlier, U.Tode reported that Ark Invest has dropped its plans to launch Ethereum ETF although it previously expressed strong confidence in the long -term ETHER value.
This new investment in Solana refers to Cathie Wood, at the long -term value of Sol until after the speculative trade, which makes it a strategic addition to its company that focuses on innovation.
