ARK ETF Trust’s proposed ARK Tokenized Market Infrastructure ETF would gain most company exposure through swaps, according to a Nov. 6 preliminary prospectus filed with the Securities and Exchange Commission.
The proposed fund is one of 14 covered by the filing. It would be actively managed, with ARK Investment Management LLC selecting companies it views as building infrastructure for tokenized traditional assets and on-chain capital markets. The filing names businesses in tokenization, stablecoins, trading, brokerage, custody and settlement. It also allows the fund to buy equity in companies that fit the theme and to hold private equity and restricted securities.
Under normal market conditions, the fund’s 80% minimum would cover investments aligned with its tokenized-market approach. Qualifying government securities, money-market holdings and other short-term fixed-income instruments would count toward that threshold.
The prospectus says total-return swaps would provide most of the fund’s exposure to companies in its theme. The fund may use swaps tied to U.S.-listed ETPs tracking Ether (ETH), SOL and other network assets relevant to tokenized markets. It would hold neither those products nor the digital assets themselves.
The prospectus identifies leverage and counterparty failure as distinct risks and says that losses in some circumstances could have no upper limit. It leaves the fund’s ticker and management fee fields blank.
The registration statement has not taken effect, so shares cannot yet be sold. The filing says the SEC has neither approved nor disapproved the proposed securities and proposes effectiveness 75 days after filing, but gives no confirmed SEC decision date.
