Cathie Wood Backs $300M Solana Deal on Italian Soccer Team Owner

Solana (SOL) gains attention as Brera Holdings, a NASDAQ-listed football ownership company, rebrands to Solmate following a $300 million investment led by ARK Invest and Abu Dhabi’s Pulsar Group.

The firm plans to accumulate the cryptocurrency and pursue a dual listing in the UAE, driving a surge in its share price and broader market interest.

Cathie Wood Endorses $300M Acquisition

Brera Holdings, an Ireland-based multi-club football operator with assets in Italy, North Macedonia, Mozambique, and Mongolia, is shifting strategy after obtaining a $300 million private investment led by ARK Invest and Pulsar Group. The capital will enable the company, soon to be renamed Solmate, to begin stockpiling Solana (SOL) tokens. Shares in Brera surged dramatically—at one point nearly 600%—before closing around 225% higher following the announcement.

Solana-Focused Strategy and Price Reaction

The new entity aims for a dual listing in the United Arab Emirates, leveraging regional relationships to expand its SOL holdings, according to an investor presentation reviewed by the Financial Times. This approach echoes models used by firms that build substantial crypto treasuries, notably MicroStrategy, which has raised equity and debt to acquire roughly $75 billion in bitcoin.

In parallel with the announcement, SOL has experienced an upward price movement. Over the past seven days, SOL rose about 8.5%, reaching roughly $247.50 at the time of writing. This gain reflects renewed market interest tied to Solmate’s strategy.

Marco Santori, formerly with Kraken and Pantera Capital, has been appointed CEO of Solmate, stating that the company intends to be more than a simple crypto treasury. The board also includes economist Arthur Laffer, whose involvement appears to have been a catalyst for Cathie Wood’s participation. Cantor Fitzgerald served as advisor in the private placement.

Football Roots Amid Market Volatility

Brera’s football operations have had mixed results: its Mongolian club finished last in its league last season, while its Italian side, Juve Stabia, sits toward the lower end of the table early this season.

Meanwhile, the broader universe of crypto treasury companies has seen volatility. Some firms now trade below the value of their crypto holdings, raising concerns about sustainability. Solmate enters a crowded field of institutions aiming to accumulate SOL, as Pantera Capital recently helped raise $1.25 billion for another Solana-focused venture.