ARK Invest seeks SEC approval to tokenize venture fund interests

ARK Invest has applied to the U.S. SEC for approval to introduce tokenized interests using distributed ledger technology, or DLT, in its venture fund, The Defiant reported. The ARK Venture Fund is a closed-end interval fund that continuously accepts investors and had $562 million in total assets as of Jan. 31, according to the report. The fund targeted for tokenization is separate from the ARK Innovation ETF, or ARKK, which has about $6.55 billion in assets.