Ondo Finance Tokenizes Three BlackRock Portfolios on Blockchain

Securitize Corp. has sealed a deal with ARK Invest to tokenize the ARK Venture Fund, its first tokenization contract since the Securities and Exchange Commission issued what it called the Innovation Exemption allowing tokenized representation of traditional securities. The ARK Venture Fund, an actively managed closed-end interval fund holding private and public companies such as OpenAI, Anthropic, Stripe and Databricks, will become available on Ethereum, with Securitize providing the infrastructure for onchain issuance and the investor experience. ARK Invest CEO Cathie Wood said tokenizing the fund puts the firm's conviction in the evolution of capital markets into practice and called the partnership a natural extension of its mission to democratize access to disruptive innovation. Following the SEC's rules issuance on tokenized securities, Cantor Fitzgerald initiated coverage with a buy recommendation and a $21.20 price target, while Rosenblatt raised its price target to $13 from $11, citing the Innovation Exemption as a significant catalyst. Securitize manages around $5 billion of tokenized assets under management across 23 public blockchains, and the article notes that traditional financial assets total $319 trillion worldwide with only $39 billion, or 0.01 percent, currently on-chain.

Krungthai Asset Management Public Company Limited, or KTAM, has launched the Krung Thai Government Money Market Fund (KTSV), a money market fund with a risk level of 1 that focuses on investing in Thai government securities, averaging no less than 80 percent of NAV per fiscal year, with the remainder invested in deposits, debt instruments, and other financial instruments with repayment on demand or maturities not exceeding 397 days. Ms. Chavinda Hanratanakool, Managing Director, said investment markets continue to face ongoing volatility, prompting investors to adjust strategies to reduce risk and turn to lower-risk investments. The KTSV fund offers two unit classes: the accumulation class (KTSV-A) and the token class (KTSV-KTB). KTSV-KTB is available for investment only through the NEXT application and all Krung Thai Bank branches, and has been changed from the previous KTB class to a token class to support the trading and redemption of units issued in token form, as well as new services Krung Thai Bank plans to offer investors in the future, without affecting the rights and benefits of existing unitholders and without changing the fund's investment policy or risk level.