ARK Invest Tokenizes $1.3 Billion Fund on Ethereum Blockchain

Cathie Wood's ARK Invest is expanding its reach in the financial market by tokenizing its $1.3 billion ARK Venture Fund on the Ethereum blockchain with Securitize.

The fund, which already had a minimum investment of $500, has been open to investors since September 2022 and owns stakes in private companies such as OpenAI and Anthropic. SpaceX was the top holding at 7.54% as of August 31.

Cathie Wood sees tokenization as a way to make venture capital more accessible to a wider range of investors, saying 'tokenization has the potential to reshape fundamentally the way that investors access and participate in both private and public financial markets.'

The fund is an interval fund, which means it only buys back shares at set times, and its prospectus schedules quarterly buybacks. ARK's annual expenses are listed as 2.9% after fee waivers.