ARK Seeks SEC Approval for Tokenized Share Class in Venture Fund
ARK Investment Management has submitted an application to the US Securities and Exchange Commission (SEC) to approve a tokenized share class for its $562 million venture fund. The new Tokenized Class would allow ownership records to be maintained using distributed ledger technology, which would enable shares to trade through registered Alternative Trading System (ATS) platforms or between approved wallets.
The application seeks to amend an existing exemptive order granted by the SEC in November 2025, allowing the fund to maintain multiple share classes. The proposed Tokenized Class would have a different route for secondary trading compared to the Exchange Class shares, which could list on a national securities exchange.
ARK has not named a specific blockchain or tokenization provider for the proposed share class. However, the firm already has a financial connection to Securitize through its venture fund, which holds Securitize equity and a $10 million convertible note carrying a 5% interest rate maturing in September 2028.
The SEC has set a deadline of September 18 for hearing requests before it can act on ARK's application. The proposal relies on the existing Investment Company Act process instead of requiring the unfinished innovation exemption to become effective.