ARK Investment Management Seeks SEC Approval for Tokenized Shares of Venture Fund

ARK Investment Management has filed for an exemption with the U.S. SEC to issue a tokenized share class for the ARK Venture Fund. The proposal includes an exchange-traded class and a tokenized class that utilizes distributed ledger technology for peer-to-peer transfers on registered alternative trading systems or whitelisted wallets. The tokenized shares would be issued at net asset value without sales loads. While the SEC has issued a notice with a hearing deadline of September 18, the regulatory framework for such tokenization remains under development.