ARK securitized his hands, brought VC funds up to Ethereum but still locked the exit doors tight.

- What's going on?

On September 24, ARK Invest and Securitize announced that qualified investors will be able to hold tokenized interests in the ARK Venture Fund on blockchain Ethereum .

What is ARKVX?

ARKVX is an interval fund that invests in technology companies, both private and public. The tokenized beneficial owners are exposed through the funds directly managed by them rather than their shareholders themselves.

Why is reselling still an issue?

Even though the investment unit is on a blockchain, the withdrawal terms are still the same.

• ARK's calendar year 2026 is set for September 30 as the next round of resell submissions, which are just a few days after the tokenization announcement.
• The fund can only buy back up to 5% of the units issued per quarter at NAV.
• The terms of the release state that the unit is unlisted and it's anticipated there will be no secondary market.

And it's unclear if the tokenized interest holders who bought after September 24 will be able to participate in a resell offer later this month.

SEC cleared for trading?

The Order of SEC dated 21 September allows the ARK to offer for sale tokenized investment units that may be traded on alternative trading systems or appear on other pricing services, but the text places a limitation: there are only approved wallet holders of such units. The ARK itself does not anticipate a strong initial trading market and asserts that trades through an alternative system, either over-the-counter or peer-to-peer , must all fall under these controls.[citation needed]

Another point to note is that the redemption offers are distributed throughout the fund, there's no separate redeemable funds for a specific tokenized class.

What does this mean for investors in Thailand and Myanmar?

This approach reflects the growing trend of RWA tokenization around the world and could serve as a model for other traditional forms of fundraising in the Southeast Asian region to consider. However, Thai investors familiar with trading digital assets through platforms licensed by the SEC (Thailand) Thailand should understand that tokenized units of ARKVX-style closed-end funds are still fragile assets unlike general crypto holdings which can be sold at any market price.

The key question now is whether there will be a secondary market for tokenized units that actually opens up and attracts buyers before that day comes.