Securitize (NYSE: SECZ) reached a new all-time high Thursday, its third this week, after agreeing with ARK Invest to tokenize the ARK Venture Fund. The deal is its first tokenization contract since the SEC issued the “Innovation Exemption.”
ARK Venture, an actively managed closed-end interval fund investing in private and public companies, is set to become available to eligible investors on Ethereum. Securitize will provide infrastructure for its on-chain issuance and investor experience. The article says the SEC’s “Innovation Exemption” permits traditional securities to be represented as tokens.
Cantor Fitzgerald initiated a buy recommendation with a $21.20 price target. Rosenblatt also recommended buying and raised its target from $11 to $13, citing the SEC exemption as a catalyst. The article says Securitize manages about $5 billion in tokenized assets across 23 public blockchains.
