Securities Law News

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....

To read the full article log in. To learn more about a subscription click here.