Migration of Solana's Staking Infrastructure: ARK Partners with Sol Strategies

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## Migrating Staking Infrastructure

On the 28th, Canadian cryptocurrency investment company Sol Strategies announced that the private fund of the renowned investor Cathie Wood's investment firm ARK Invest (hereinafter referred to as ARK) has selected Sol Strategies as the staking provider for Solana (SOL).

The fund in question is ARK's "Digital Asset Revolutions Fund." For the operation of this fund, ARK plans to transition the operation of Solana's validator to the infrastructure of Sol Strategies.

What is a validator?

A node that verifies the validity of data recorded on the blockchain.

Sol Strategies is a prominent company listed on the Canadian stock exchange and is known for purchasing Solana. Additionally, they provide infrastructure specifically for the Solana ecosystem and operate validators.

In this announcement, it was explained that ARK is working to obtain staking yields for investors through vehicles such as a staking ETF. As part of this initiative, it seems they have decided to leverage the infrastructure of SOL Strategies.

The CEO of Sol Strategies, Ria Wald, commented as follows in a statement.

Being selected as a staking provider for ARK means that our institutional infrastructure and market position have been recognized.

Mr. Wood and the ARK team are highly regarded for their investments in the cryptocurrency and IT sectors. ARK's trust in our validator capabilities will strengthen our commitment to providing the best staking solutions for institutional clients.

As of the time of writing this article, the stock price of Sol Strategies on the Canadian stock exchange is 1.59 Canadian dollars. It has risen by over 38% compared to the previous day.

Fund Overview

The target fund for ARK is themed around the potential of public blockchains.

This is a private fund that invests in 10 to 12 cryptocurrencies, offered to qualified investors and qualified purchasers. The management of the portfolio is handled by Mr. Wood. It seems that the fund invests in many strategies within digital assets.

In this initiative by Solana, the custody platform "BitGo" will also cooperate.

SOL-1.33%
ARK-2.48%
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