SEC Approves ARK Venture Fund’s Dual Share Class Structure
- The SEC has granted ARK Venture Fund amended exemptive relief to create an Exchange Class and a Tokenized Class.
- Ownership records for the Tokenized Class can be maintained using distributed-ledger technology.
- The Exchange Class is intended for listing on a national securities exchange.
- ARK has not yet announced when these new share classes will begin trading.
The SEC’s approval allows ARK Venture Fund to explore blockchain-based ownership records while adhering to existing investor-protection regulations. This development marks a significant step in integrating tokenized funds within established securities law frameworks.
ARK now has regulatory clearance to implement these innovative share classes, but no launch date has been set, indicating this is more about regulatory readiness than immediate market entry. (Source)
