ARK Invest Expands Crypto Portfolio with 3iQ’s Solana Staking ETF in Canada
ARK Invest has strategically incorporated 3iQ’s Solana Staking ETF into its suite of cryptocurrency investment products, marking a significant expansion of its digital asset offerings in the Canadian market. This move demonstrates ARK’s continued commitment to providing innovative crypto exposure through regulated financial instruments, leveraging Solana’s proof-of-stake blockchain technology for yield generation. The integration reflects growing institutional interest in staking-based investment vehicles as part of diversified crypto portfolios.
ARK funds add Solana staking exposure after investment in SOLQ
Ark Invest’s ARKW and ARKF ETFs added Solana to their token offerings through a $5.2 million investment to purchase 500,000 of 3iQ’s Solana Staking ETF (SOLQ) shares. As a result, the funds are the first US-listed product to offer Solana staking exposure in addition to their earlier investment in 3iQ Ether Staking ETF.
SOLQ — alongside other SOL ETFs from Purpose Investments, Evolve ETFs and CI Global Asset Management — launched on the Toronto Stock Exchange on April 14 after receiving approval from the Ontario Securities Commission (OSC). The products provide investors with direct exposure to Solana’s (SOL) spot price while offering the opportunity to earn staking rewards.
SOLQ’s inclusion in the ARK funds comes as several US asset managers await the Securities & Exchange Commission’s (SEC) decision on several spot Solana ETF filings.
Their futures counterparts already received approval in the US last month after Volatility Shares launched Volatility Shares Solana ETF (SOLZ) and the 2x Leveraged Solana ETF (SOLT) — both providing exposure to Solana futures rather than the underlying asset.
Meanwhile, more companies are adjusting their treasury strategies to include Solana in their reserves.
Over the past two weeks, commercial real estate firm Janover purchased 163,651 SOL for its cryptocurrency treasury. Crypto investment firm GSR also announced a $100 million investment into Upexi, backing the company’s new Solana-based treasury strategy.
"This investment highlights the growing demand for efficient, secure access to high-quality crypto assets in public markets," said Brian Rudick, Head of Research at GSR in a press release on Monday. Upexi’s share price is up over 300% since the announcement.
SOL ROSE to $142 in the early hours of Monday before dropping to $136, down 0.4% at publication time.
