ARK Tokenizes Venture Fund With Securitize; Kalshi Is No. 2 Holding

ARK Invest, the disruptive innovation-focused investment manager founded by Cathie Wood, and Securitize announced on Sept. 24, 2026 that they have tokenized the ARK Venture Fund (ARKVX), making a tokenized version of the fund available on Ethereum to eligible investors through Securitize, according to the companies’ joint announcement.

The fund has a direct prediction-market connection: ARK’s own holdings file, dated Aug. 31, 2026, lists event-contract exchange Kalshi Inc. as the fund’s second-largest position, at 5.81% of assets.

What ARK and Securitize announced

The ARK Venture Fund is an actively managed closed-end interval fund that seeks long-term growth of capital by investing across private and public companies tied to what ARK calls disruptive innovation; the release names OpenAI, Anthropic, Stripe and Databricks among its investments. Through the tokenization, eligible investors accessing the fund through Securitize gain exposure to that actively managed portfolio through blockchain-based infrastructure, the companies said, noting that fund holdings are subject to change.

In a launch-day thread on X, Securitize said it was bringing ARKVX onchain with ARK and making it available on Ethereum, adding that “for the first time, eligible investors can access the tokenized version of ARK’s flagship disruptive innovation fund with a minimum investment of $500.” Securitize said it will provide the infrastructure supporting ARKVX’s onchain issuance and investor experience, while ARK continues managing the fund’s portfolio and investment strategy.

“Tokenizing the ARK Venture Fund puts our conviction in the evolution, if not revolution, of capital markets into practice,” Wood said in the release. Securitize co-founder and CEO Carlos Domingo said bringing ARKVX onchain “demonstrates how leading asset managers can use tokenization to move established investment products onto modern capital markets infrastructure.”

Kalshi is the fund’s second-largest holding

ARK’s holdings file dated Aug. 31, 2026 shows the fund’s largest positions as:

• SpaceX — 7.54%
• Kalshi Inc. — 5.81%
• Ayar Labs — 5.65%
• OpenAI — 5.26%
• Stripe — 4.16%
• Anthropic — 3.86%

On its portfolio page, ARK describes Kalshi as a federally regulated exchange that lets users trade on the outcomes of future events, known as event contracts, operating under a license from the U.S. Commodity Futures Trading Commission, and calls it the first CFTC-regulated exchange focused exclusively on event-based markets. ARK lists Kalshi as headquartered in New York and founded in 2018, and dates its own initial investment to November 2025. The holdings file cautions that holdings are subject to change and that the data is not a recommendation to buy, sell or hold any security.

Fees, minimums and eligibility

Securitize’s stated $500 minimum matches the fund’s prospectus, which sets a $500 minimum initial investment for each share class — a stated minimum that may be reduced for certain investors and that the fund reserves the right to waive — with subsequent investments permitted in any amount.

For Class D shares, the prospectus lists a 2.75% management fee and total annual fund expenses of 3.49%, or 2.90% after expense reimbursement; Class D shares carry no sales load, though financial firms may charge transaction or other fees directly. ARK’s fund page, retrieved Sept. 27, 2026, shows the 3.49% gross expense ratio as of the most recent prospectus dated Oct. 28, 2025, and says the 2.90% net figure reflects contractual fee waivers currently scheduled to remain in place indefinitely but terminable sooner by the fund’s Board on 60 days’ written notice to the adviser. Shares are offered daily, priced at the net asset value next computed after an order is received, through distributor Foreside Fund Services on a best-efforts basis.

The release states that eligibility and other restrictions apply. ARK’s fund FAQ describes the fund generally as open to investors regardless of accreditation and as available only to U.S. citizens.

Liquidity stays quarterly, capped and prorated

The announcement’s own disclosures state that the fund’s shares are not listed on a securities exchange, that no secondary market is expected to develop, and that liquidity is limited to periodic repurchase offers, which may be oversubscribed.

Under the prospectus, the fund operates as an interval fund that conducts quarterly repurchase offers for between 5% and 25% of outstanding shares at net asset value, expects to offer only the 5% minimum in any given offer, and makes the offers in March, June, September and December. If shareholders tender more than the repurchase offer amount, the fund repurchases on a pro rata basis; it may, but is not required to, repurchase up to an additional 2% of outstanding shares, and it may first accept all shares tendered by holders of fewer than 100 shares who tender everything. The prospectus advises investors to consider the shares illiquid and appropriate only as a long-term investment.

Repurchase offers can be postponed or suspended only by a majority vote of the Board, including a majority of independent trustees, and only in limited circumstances, including non-routine market closures or trading restrictions, an emergency that makes it impractical to dispose of portfolio securities or determine NAV, a repurchase that would cause the fund to lose its regulated investment company tax status, or other periods the SEC permits for the protection of shareholders.

An expanding ARK–Securitize relationship

The launch extends an existing relationship. ARK Invest’s strategic investment in Securitize, announced in October 2025, laid the groundwork for the collaboration, according to the release, and ARK’s Aug. 31 holdings file shows the ARK Venture Fund itself held a 0.65% position in Securitize, Inc.

Securitize describes itself as having approximately $5 billion in assets under management as of August 2026 and as working with managers including Apollo, BlackRock, BNY, Hamilton Lane, KKR and VanEck. In a July 2026 letter marking the start of NYSE trading in Securitize shares under the ticker SECZ — following its business combination with Cantor Equity Partners II — Domingo wrote that the firm became a registered transfer agent, broker-dealer, alternative trading system and investment adviser.

What the SEC’s tokenized-stock order does not cover

The launch follows the Securities and Exchange Commission’s Sept. 17, 2026 order granting temporary, conditional exemptive relief allowing Tokenized Securities Venues to trade tokenized National Market System (NMS) stock using permissioned automated market makers and liquidity pools, along with a conditional “dealer”-definition exemption for certain liquidity providers. The relief carries conditions — including limits on the number of symbols and volume traded and a requirement that a tokenized stock confer the same rights and privileges as the equivalent traditional shares — and expires five years after publication; the SEC requested public comment.

By its terms, the order does not extend to registered investment companies such as ARKVX: the order states that it provides no exemption for purposes of the Investment Company Act of 1940, notes that activities related to tokenized investment companies may raise issues under that Act, and permits no primary issuance or initial offerings of securities on a Tokenized Securities Venue under the exemption. Neither the ARK–Securitize announcement nor Securitize’s launch-day thread cites the SEC order.