SEC Clears ARK Venture Fund For Tokenized And Exchange-Traded Share Classes
ARK Venture Fund received SEC exemptive relief that lets it test two share classes for the same fund: an Exchange Class and a Tokenized Class. The Exchange Class can be listed on a national securities exchange. The Tokenized Class can use distributed-ledger technology to maintain ownership records, with trading potentially occurring on alternative trading systems. This is more than a marketing wrapper around a fund ticker: the order sets up the legal structure needed for a registered fund to support tokenized ownership while still complying with custody, transfer, and investor-protection rules. The SEC order is permission to build and potentially launch these classes, not proof that the tokenized class is already live or that an immediate launch date has been set. The key significance is that tokenized fund structures are moving closer to being integrated into existing securities-law frameworks.
