ARK Invest has announced the addition of shares of staked Solana (SOL) to two of its exchange-traded funds (ETFs), highlighting the growing interest in this cryptocurrency asset.
Addition of Solana to ARK Funds
As of April 21, two ARK funds — ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) — started holding shares of 3iQ’s Solana Staking ETF (SOLQ), a Canadian ETF that includes staked SOL.
Strategy and Composition of ARK ETFs
ARK funds are designed to provide broad exposure to emerging technologies and include both technology stocks and direct investments in cryptocurrencies. The funds include companies like Coinbase and Robinhood. According to ARK, adding SOL shares makes ARKW and ARKF the first US-listed ETFs to access Solana.
Future of Solana ETFs
Experts claim that the recent listing of Solana futures on the Chicago Mercantile Exchange (CME) may indicate that US SOL ETF listings are forthcoming. 3iQ launched its Solana ETF in Canada following approval from the Ontario Securities Commission.
The addition of Solana to ARK Invest's portfolio underscores the rising interest in this cryptocurrency. The future of Solana-based ETFs remains a focal point amid regulatory trends in the market.
