Big move alert! Cathie Wood and her crew at ARK Invest just dropped their first-ever bag on Solana — and they didn’t even go the risky route. Instead, they bought shares of the 3iQ Solana Staking ETF, a Canada-listed crypto fund that also gives staking rewards. Yep, passive income + exposure = win-win.
This is the first time ARK has touched anything outside of Bitcoin and Ethereum — and it’s got people talking. Both ARKW and ARKF funds scooped up 237,500 shares of SOLQ each. So yeah, they’re not just testing the waters; they’re diving in headfirst.
Canada beat the U.S. to the punch (again ) by approving these crypto ETFs — including ones from Purpose, Evolve, and CI — while the U.S. is still playing the waiting game with a spot ETF.
Why SOL Though?
Cathie’s been saying it for a while: Solana is like “a faster, cheaper Ethereum.” And she’s putting her money where her mouth is. Dev activity on it is up 40% in the past year, which means people are actually building on it. Plus, the whole staking angle? That’s passive gains for institutional investors — no wallets, no keys, just vibes and yield.
Plot Twist: ETH ETF Plans Canceled
While ARK was hyped on Ethereum last year, they just recently backed off from pushing a spot ETH ETF. Instead, they’re sliding into its lane, betting that new-gen chains like SOL might be the real future.
Even though its price hasn’t skyrocketed post-news, it’s already up nearly 30% over the past two weeks — mostly thanks to broader market energy and network upgrades.
Will the U.S. Follow?
Still no green light on a the ETF in the U.S., but this ARK move could push regulators to finally act. For now, Canada’s ETFs like SOLQ are where the institutions are setting up base.
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