ARK Invest's ARKW and ARKF funds bought a combined 9,755 units of the 3iQ Solana Staking ETF (TSX: SOLQ.U) on August 28, per ARK's daily trade disclosures. The purchase split 5,841 units to the ARK Next Generation Internet ETF (ARKW) and 3,914 units to the ARK Fintech Innovation ETF (ARKF), making it the largest single-day unit count of the four August purchases the two funds have made in the Canadian product, according to CryptoTimes.
Four SOLQ.U Purchases Across August: ARK's Accumulation Pattern
ARK has bought SOLQ.U on four separate occasions since August 13. Of the three with confirmed unit counts, ARK bought 7,115 units on August 18 and 5,844 units on August 21, as we covered in our earlier report. The August 28 trade was 67% larger by unit count than the August 21 purchase, per ARK trade notifications.
The August additions build on a position ARK began in April 2025, when ARKW and ARKF became the first U.S.-listed ETFs to gain exposure to Solana and its staking rewards through a regulated wrapper. By the time of the August 21 purchase, that cumulative position had exceeded $10 million, per 3iQ's announcement.
What the 3iQ Solana Staking ETF Provides
The 3iQ fund lists on the Toronto Stock Exchange under two symbols: SOLQ for Canadian-dollar units and SOLQ.U for U.S.-dollar units. It holds SOL directly and stakes the holdings through OTC counterparties and institutional trading platforms, with staking rewards distributed to unit holders inside the regulated wrapper. The fund launched in April 2025 with a 0% management fee for the first 12 months.
"We are delighted to welcome Cathie Wood's ARK Invest as investors in 3iQ's Solana Staking ETF," Pascal St-Jean, 3iQ's President and CEO, said when ARK entered the fund. In that same release, Wood described Solana as "a high-performance blockchain infrastructure with significant potential for decentralized applications and finance."
One Day After SGP-0002: The Governance Context
The purchase was filed on August 29 for a trade date of August 28, one day after Solana SOL$91.90-3.1% validators ratified SGP-0002. The proposal, which passed with 67% of stake, doubles Solana's disinflation rate, accelerating the pace at which the network's annual issuance tapers. For any fund holding SOL, that reduces the long-run dilution rate on the underlying asset over time.
ARK's trade notifications do not disclose rationale for individual transactions.
