ARK Investment Management has asked the SEC (U.S. securities regulator) to approve a Tokenized Class for its $562 million ARK Venture Fund, alongside a proposed Exchange Class. Ownership records for the Tokenized Class would use distributed ledger technology, while trading could occur through Regulation ATS platforms, other quotation mediums or peer-to-peer transfers between approved wallets. The fund would not seek permission to list or quote the shares on decentralized finance platforms. The SEC published the application notice on Aug. 24 and set Sept. 18 as the deadline for hearing requests before deciding whether to grant the requested relief. ARK filed the original application on May 20 and amendments on June 11 and Aug. 7 under file number 812-16031, seeking to amend an exemptive order granted in November 2025. The application relies on existing Investment Company Act provisions rather than the unfinished innovation exemption for tokenized securities. ARK has not named a blockchain, tokenization provider or new transfer agent, although The Bank of New York Mellon currently serves as the fund’s transfer agent, administrator and custodian. The fund already owns Securitize equity and a $10 million convertible note, but the filing does not say whether Securitize would participate in the proposed class. The application comes as the SEC develops broader tokenization and transfer-agent rules, including a Sept. 1 proposal addressing blockchain-based ownership records, with comments due Nov. 3.