Cathie Wood-backed sports stock rallies 35% after unexpected news

A new entrant in the crypto arena is Brera Holdings PLC (Nasdaq: BREA), whose stock rallied over 35% after a major announcement.

On Sept 23, Brera Holdings PLC (BREA) saw a significant bump, closing up at $25.12, a gain of 35.05%, from the previous close of $18.60.

For the day, BREA opened at $17.50 and jumped sharply during early trading to hit an intraday high of $25.80, with the shares settling around the $25 level. The volume of trading for the day was substantially higher than average.Brera Holdings’ stock chart shows a sharp reversal, with shares soaring in 2025 after months of decline. Source: TheStreet Roundtable on Tradingview.

In premarket trading on Sept 24, BREA shares were seen dipping slightly, down 0.48% at $25.00, suggesting that the upward momentum may have shifted to profit-taking after such a high-volume rally.

From football to DAT

Brera Holdings, which will be renamed Solmate, has announced the launch of a $300 million strategy centered solely on the Solana ecosystem on Sept 23. The company, based in Ireland, initially built its profile through a multi-club football ownership strategy across Europe.

According to the announcement, the capital will be generated from its oversubscribed private investment in public equity (PIPE) financing, which includes investors such as Pulsar Group, RockawayX, ARK Invest, and investors from the UAE.

BREA believes this move will allow the company to begin acquiring and staking Solana's native token (SOL) to build a new digital asset treasury (DAT).

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Instead of a conventional validator setup, Solmate will utilize bare metal servers in Abu Dhabi for enhanced validation performance and yield generation and establish itself as a premium Solana staking infrastructure operator.

Locating in the UAE enables Solmate to align with the country's digital transformation strategy, while providing local investors with access to yield generation on Solana.

This, along with a brand new rebrand mark, marks Solmate's transformation from a multi-club football ownership to an institutional staking infrastructure operator and treasury operator focused on Solana.

Solana as a treasury asset

Many public companies have begun adding Solana to their treasuries and are participating in a broader trend of building out blockchain infrastructure and generating returns. As of writing, over $2 billion worth of SOL is held by corporations.

Forward Industries (FORD) has become the largest corporate holder of SOL with over 6.8 million tokens. DeFi Development Corp. (DFDV) has over 2 million SOL under management using on-chain staking strategies. Other companies, such as Upexi (UPXI) and Sharps Technology (STSS), have also established multi-million SOL positions, as per Coingecko.

At press time, SOL was trading at $212.01, down nearly 4% over the last 24 hours, as per Kraken.

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This story was originally reported by TheStreet on Sep 24, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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