📰 ARK Venture Fund Takes Another Step Forward: Files a Second Amendment Exemption Application with the U.S. SEC, Seeking to Add Two New Share Classes on Top of the Existing Multiple Share Structures.
One class is the Exchange Class, which plans to be listed on a national securities exchange. The other is the Tokenized Class, which will use distributed ledger technology to record ownership and trade via registered ATS over-the-counter trading systems or quotation systems. In simple terms, traditional fund shares and tokenized shares may be placed within the same product framework.🔥
Honestly, this isn’t as simple as “turning the fund into a coin.” The filing also states that tokenized shares must go through KYC/AML review, and only whitelisted wallets can hold and trade them. That means that even if the on-chain form exists, the participation threshold and compliance requirements are still there.
💡 What’s even more interesting is that ARK also wants this exemption to be applicable in the future to other interval funds operating under Rule 23c-3 or Rule 13e-4. In addition, the fund may charge distribution or service fees based on assets under management, and it can also set early redemption fees—but the newly added exchange-listed shares and tokenized shares would not be subject to those fees.
If the application is approved, trading scenarios for the fund shares could become more diverse: they could be traded via exchanges as well as through compliant on-chain wallet ecosystems. Do you think institutional investors will adopt tokenized fund shares first, or will retail investors try them earlier?
#ARK #代币化资产 #RWA #加密市场