ARK Invest Leads Charge for Tokenized Investment Funds in the U.S.
- ARK Invest, led by Cathie Wood, is reportedly the frontrunner to launch tokenized investment funds in the U.S.
- The rollout may begin with ARK funds before expanding to other firms like Fidelity and WisdomTree.
- This development follows a significant SEC proposal aimed at modernizing transfer agent rules for tokenization.
- The SEC’s proposed rule change is its most extensive since the early 1980s and seeks to address recordkeeping for blockchain-based securities.
- Transfer agents will be responsible for overseeing tokenized funds and maintaining shareholder records on distributed ledgers.
The SEC is considering whether to implement a direct blockchain record-keeping system for shareholders, which could enhance transparency and efficiency in trading tokenized assets.
With ARK Invest poised to lead this initiative, the firm could significantly influence the future of tokenized investments in the U.S., especially as regulatory frameworks evolve around these innovations. (Source)
