Solmate Unveils $300M Solana Treasury Strategy as ETF Hopes Build

Sean Williams
Solana (SOL)

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  • Solmate raises $300M for a Solana-focused treasury strategy.
  • UAE launch signals rising Middle East institutional interest in SOL.
  • ETF approval could trigger Solana’s “institutional moment.”

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Solana (SOL) has secured another major institutional ally. Solmate, a newly rebranded firm emerging from Nasdaq-listed Brera Holdings (Nasdaq: BREA), has announced a $300 million raise dedicated to a Solana-focused treasury strategy. The move marks a growing wave of institutional interest in SOL, which has long trailed Bitcoin (BTC) and Ethereum (ETH) in large-scale adoption.

Solmate Targets UAE With Crypto Infrastructure Push

Solmate plans to base its operations in the UAE, aiming to stand out from existing treasury players by building local crypto infrastructure, including validator nodes. CEO Marco Sanori, formerly Chief Legal Officer at Kraken, said the firm’s model will combine staking most of its SOL holdings with running its sports club venture. Solmate’s shares will also be tradable in both the U.S. and UAE, expanding its investor reach.

The backing of the Solana Foundation and a UAE-based investment firm adds further weight to Solmate’s ambitions, signaling growing confidence in Solana’s ecosystem from Middle Eastern capital.

Institutional Demand Could Be Turning Toward Solana

Solmate joins a rising list of firms amassing SOL treasuries, including recent heavyweights Helius ($500M) and Forward Industries ($1.65B), both supported by Pantera Capital. Still, institutional exposure to Solana remains limited—just 0.9% compared to ETH’s 7% and BTC’s 16%.

Pantera believes a potential Solana ETF approval as early as Q4 2025 could trigger an institutional pivot, similar to how spot ETFs fueled new highs for BTC and ETH. Currently, institutions hold $364B in BTC and $30B in ETH, while SOL stands at $925M.

A Step Toward Solana’s “Institutional Moment”

Brera Holdings’ stock (BREA) surged 225% on the Solmate news, even as SOL’s price dipped 4% to $245 as traders took profits from its Fed-driven rally. For Helius Labs founder Mert Mumtaz, the move is “big,” especially for the UAE’s push to become a crypto-forward hub.

If institutional holdings in SOL climb into the multi-billion range, Solana could soon join BTC and ETH as a leading treasury asset.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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