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Arca Launches SEC-Registered Fund Using Blockchain Technology
Summary: Financial services firm Arca has begun selling shares of its SEC-registered closed-end fund "Arca U.S. Treasury Fund" whose shares trade on the Ethereum blockchain, according to a recent announcement. The milestone marks the first time blockchain will be part of an SEC-registered fund. Arca's shares — ArCoins — went live on Monday, July 6. ArCoins are ...
Financial services firm Arca has begun selling shares of its SEC-registered closed-end fund "Arca U.S. Treasury Fund" whose shares trade on the Ethereum blockchain, according to a recent announcement.
The milestone marks the first time blockchain will be part of an SEC-registered fund. Arca's shares — ArCoins — went live on Monday, July 6. ArCoins are transferred via Ethereum and are characterized as digital securities by the SEC.
Arca CEO Rayne Steinberg stated that the development is an important step towards integrating traditional finance with digital investment products. Arca builds products to help individuals invest in digital assets.
By Emily Mason
Tags: Arca,Ethereum,SEC
Link: Arca Launches SEC-Registered Fund Using Blockchain Technology [Copy]
