ARK Invest and Securitize Tokenize ARK Venture Fund on Ethereum

ARK Invest and token‑services provider Securitize announced on September 24 that qualified investors will be able to hold tokenized interests in the ARK Venture Fund (ARKVX) on the Ethereum blockchain. The tokenization places an established interval fund on a blockchain platform while preserving the fund’s existing exit restrictions.

Fund structure and tokenized interests

ARKVX invests in a mix of private and public technology companies. The new tokenized shares represent a proportional stake in the managed fund, giving holders exposure to the same portfolio as traditional shareholders.

On‑chain issuance and investor experience

Securitize will manage the on‑chain issuance process and the associated investor experience. Only approved wallets are permitted to hold the tokenized shares.

Liquidity constraints

The fund operates under a quarterly repurchase program that allows the fund to buy back up to 5 % of its outstanding shares at net asset value each quarter. The next repurchase deadline is set for September 30, 2026, just days after the tokenization announcement. The published terms do not clarify whether investors who acquire tokenized interests after September 24 can participate in that quarter’s repurchase.

No secondary trading venue or guaranteed buyer has been announced. The fund’s disclosure states that the tokenized shares are unlisted and that a secondary market is not expected at launch. ARK’s fund page and the repurchase calendar both describe the shares as illiquid.

Regulatory backdrop

A recent SEC order permits ARK to offer a tokenized share class that could eventually trade on alternative trading systems or other quotation services, subject to additional limits. The order mentions possible over‑the‑counter, peer‑to‑peer, and alternative‑system transactions, but these would be subject to the same wallet and control requirements.

Investor considerations

Potential investors must assess whether a viable resale avenue will emerge and attract buyers. Until such a market develops, liquidity will rely on the quarterly repurchase mechanism, which is limited to a small portion of the fund’s total shares.