ARK Investment Management Seeks SEC Approval for Tokenized Share Class of Venture Fund
ARK Investment Management filed an application with the SEC to create a tokenized share class of its venture fund, with the agency setting a Sept. 18 deadline for hearing requests.
Why it matters
This filing represents a significant step in the institutional adoption of tokenized fund structures, as one of the most prominent active asset managers is pursuing a blockchain-recorded share class through existing regulatory channels rather than waiting for SEC guidance on tokenization.
Key facts
ARK Investment Management filed an application with the SEC for a tokenized share class of its venture fund
Reported by The Defiant
The SEC published notice of the request on Aug. 24 and set a Sept. 18 deadline for hearing requests
Reported by The Defiant
Existing Class D, Class S and Class U shares priced at $49.83, $49.69 and $49.70 as of May 15
Reported by The Defiant
The application was filed on May 20 and amended on June 11 and Aug. 7 under file number 812-16031
Reported by The Defiant
The filing does not seek exemptive relief regarding the use of distributed ledger technology to maintain shareholder records
Reported by The Defiant
What happened
ARK Investment Management has submitted an exemptive application to the U.S. Securities and Exchange Commission seeking permission to launch a tokenized share class for its ARK Venture Fund, whose ownership would be recorded using distributed ledger technology. The SEC published notice of the request on Aug. 24 and set a Sept. 18 deadline for hearing requests, after which it can grant an order, according to The Defiant. The application was filed on May 20 and amended twice, on June 11 and Aug. 7, under file number 812-16031. Notably, the filing does not seek any relief on the blockchain mechanics themselves, with the applicants stating they are not seeking exemptive relief regarding the use of distributed ledger technology to maintain shareholder records.
How the story developed
- Official statement
SEC publishes notice and sets Sept. 18 hearing deadline
SEC notice published Aug. 24; hearing request deadline set for Sept. 18
- First report
First report by The Defiant
ARK Asks SEC To Approve Tokenized Share Class of Venture Fund
- Update
ARK and ARK Venture Fund file exemptive application with SEC
Application filed for tokenized share class, later amended June 11 and Aug. 7
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| The Defiant Crypto media | ARK Asks SEC To Approve Tokenized Share Class of Venture Fund | Original |
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