ARK is seeking to bring tokenization into the ownership layer of a regulated investment fund. The asset manager has applied to add a Tokenized Class to the ARK Venture Fund, with shareholder ownership recorded using distributed ledger technology. The proposed shares could be distributed through registered broker-dealers or the fund’s transfer agent, and traded on regulated ATSs or through peer-to-peer transfers between approved wallets. The important distinction is where tokenization occurs. The application focuses on the fund shares rather than moving the underlying portfolio onchain. In other words, blockchain is being proposed as an ownership and transfer layer around an existing regulated fund structure. That points to a broader direction for RWA markets. Traditional investment products may not need to be rebuilt entirely onchain for tokenization to change how ownership is recorded, distributed and transferred. #STOChain #RWA #Tokenization