The Securities and Exchange Commission approved amended exemptive relief for ARK Venture Fund and ARK Investment Management, allowing the fund to offer an exchange-listed class alongside a Tokenized Class whose ownership can be recorded using distributed-ledger technology. The Tokenized Class may trade through SEC-regulated alternative trading systems operated by registered broker-dealers that are FINRA members, be quoted through other permitted mediums, or transfer between approved wallets in peer-to-peer transactions. The order, effective Sept. 21, does not establish that trading has begun. It requires daily net asset value disclosures, warnings that secondary-market prices may differ from NAV, and know-your-customer and anti-money-laundering reviews for wallets holding the shares. The relief replaces a 2025 order and can extend to certain future funds advised by ARK Investment Management or qualifying affiliates under the same conditions.