ARK Seeks SEC Approval for Tokenized Share Class in $562M Venture Fund

ARK Investment Management has submitted an application to the U.S. Securities and Exchange Commission (SEC) to approve a tokenized share class for its $562 million venture fund. This new class, called the Tokenized Class, would allow ownership records to be maintained using distributed ledger technology.

The existing exemptive order granted by the SEC in November 2025 allows the fund to maintain multiple share classes. ARK is seeking approval to add a new Exchange Class alongside the proposed Tokenized Class. The Tokenized Class shares could trade through registered alternative trading systems (ATS) platforms or between approved wallets, with ownership recorded using distributed ledger technology.

ARK has not named a specific blockchain or tokenization provider for the proposed share class, but it has maintained exposure to Securitize, which offers institutional tokenization services. The company's venture fund acquired a $10 million convertible note from Securitize in 2025, carrying a 5% interest rate and maturing in September 2028.

The SEC has set September 18 as the deadline for hearing requests before it can act on ARK's application. The proposal would give the two new classes different routes for secondary trading. Exchange Class shares could list on a national securities exchange, while ownership of Tokenized Class shares would be recorded through distributed ledger technology.