Key Takeaways 

What happened? 

Sports group Brera pivoted to an SOL treasury firm with a $300 million bet, triggering a 225% stock rally. 

What’s next for Solana? 

The growing SOL treasury and upcoming ETF approval could start the altcoin’s ‘institutional moment.’

Solana[SOL] has scored another SOL treasury player. Solmate, a new firm rebranding from Nasdaq-listed Brera Holdings (Nasdaq: BREA), has announced a $300 million raise for an SOL treasury strategy. 

The firm will focus on the UAE, with the CEO (former Kraken CLO), Marco Sanori, adding that it will be ‘different’ from other players as it will build crypto infrastructure (validator nodes) in the Middle East. 

It will also accumulate SOL and stake most of it, while running its sports-club venture. Additionally, its shares will be tradable in the U.S. and the UAE. 

The move adds a growing list of SOL treasury firms across North America, Europe, Asia, and the Middle East. Still, SOL institutional adoption lags behind Bitcoin [BTC] and Ethereum [ETH]

Will SOL close the gap with ETH, BTC?

Worth pointing out that SOL treasury recently got two players $500 million for Helius and  $1.65 billion for Forward Industries, all backed by Pantera Capital. 

But according to the venture capital firm, institutio

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Author: Benjamin Njiri