Regulation· ★★★★· bullish·

SEC Clears ARK Venture Fund for Tokenized and Exchange-Traded Share Classes

  • —SEC approved two new ARK Venture Fund share classes: Exchange Class and Tokenized Class
  • —The Tokenized Class allows ownership records on distributed-ledger technology and trading via ATS
  • —Order IC-36333 grants exemptive relief under the Investment Company Act, but no launch was announced
  • —ARK has not set a date for putting the new share classes into circulation
Why it matters: The SEC for the first time allows a tokenized share class for a registered fund, opening a path to legal tokenization of fund products in the US.
Source: NewsBTC
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