Ark Invest, led by Cathie Wood, has become the first asset manager classified by the United States to expose itself to Solana via an ETF.
Ark Invest, led by Cathie Wood, has become the first asset manager classified by the United States to expose itself to Solana via an ETF. Two of its funds – The Ark Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) – bought 237,500 shares each of the 3iq Solana ETF (Solq), which is listed in Canada. This investment follows the recent approval of Canadian regulators of several Solana ETFs, including 3iq, which began to negotiate on the Toronto Stock Exchange on April 16.
The 3iq Solana ETF allows investors to expose themselves directly to Solana while winning awards for staking. It is currently the only regulated investment vehicle of its kind for Solana available in North America. Although an ETF of Solana Spot has not yet been approved in the United States, this Ark decision marks an indirect method for American investors to access Solana via a side fund.
The ARK funds that have made the investment – ARKW and ARKF – are well -managed FNB focused on disruptive innovation and financial technology.
They already occupy positions in companies such as Coinbase, Robinhood and Block. By adding Solq, they expand their exposure to the crypto beyond Bitcoin and Ethereum. ARK also occupies positions in the FNB of Strike of 3iq and manages the ETF Ark 21Shares Bitcoin (ARKB), an ETF Bitcoin, listed in the United States which contains nearly $ 4 billion in assets.
This step reflects a broader trend in the increase in institutional interest for digital assets. Several traditional companies explore the crypto trading services, while additional crypto ETFs, including those of assets like XRP, Litecoin and Dogecoin, are currently being examined by American regulators. The launch of Solana Futures on the Mercantile Chicago Exchange has also raised expectations that an FNB of Solana side in the United States could be approved in the future.
Although regulatory uncertainty remains an obstacle in the United States, asset managers find bypass by supporting Canadian offers. The American regulatory environment has slowly evolved, with agencies such as dry, CFTC and FDIC to rationalize their approaches to digital assets. For the moment, the use by Ark of 3iq Solana ETF provides a legal path to obtain exposure to Solana, strengthening its position as an investment vehicle in major cryptography in traditional finance.
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