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Arca Gets SEC Approval to Offer Digital Shares for Treasury Fund

July 6, 2020, 1:30 PM

Arca, a firm that specializes in blockchain-based assets, received approval from the Securities and Exchange Commission to offer digital shares that represent ownership in a fund that invests in U.S. Treasury debt.

Investors in the fund will receive quarterly interest payments through the digital shares, which are offered on the Ethereum blockchain, Arca said in a statement Monday. The so-called ArCoins are regulated under the Investment Company Act of 1940, and Arca U.S. Treasury Fund is the first SEC-registered, blockchain-traded investment vehicle, according to the firm.

Arca is the latest firm to shift traditional financial products to the blockchain....

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