ARK's Tokenized Fund Lands on Ethereum, But Exit Doors Remain Locked
ARK Invest and Securitize have launched a tokenization initiative that allows eligible investors to hold tokenized interests in the ARK Venture Fund (ARKVX) on Ethereum. This move puts an established interval fund on blockchain infrastructure, providing exposure through the managed fund for holders of the tokenized interest.
The shares remain unlisted and illiquid under ARK's terms, with a next repurchase deadline set for September 30 and quarterly buybacks limited to 5% of outstanding shares. The launch also comes with restricted approved-wallet rules, indicating that only certain wallets are eligible to hold tokenized shares.
The new ownership route has raised questions about exit options for investors who choose to hold the tokenized interest. According to ARK's calendar and fund page, shareholders can seek quarterly repurchases or a future secondary sale. However, no trading venue or guaranteed buyer is announced, leaving open the possibility of limited market impact.
The SEC granted permission on September 21 to offer a tokenized share class that may trade on alternative trading systems or appear on other quotation services. While this regulatory approval could eventually provide another route to buyers, it remains unclear whether trading will begin and whether buyers will emerge.