Arca Labs launched an Ethereum based SEC registered fund

On July 6, Los Angeles-based fund manager Arca began selling shares in Arca U.S. Treasury Bond Fund, a closed end fund registered with the U.S. Securities and Exchange Commission. Most of the fund's assets are invested in short-term U.S. Treasury bills and notes. The company said it received an "effective notice" on July 6.

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The fund's launch marks the first time the SECURITIES and Exchange Commission, which is sceptical about encryption, has allowed funds represented by cryptographic tokens to enter the investment market under the Investment Corporation of 1940. fromA regulatory filingAs can be seen, Arca has been promoting various forms of ArCoin proposals for nearly 20 months.

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Rayne Steinberg, CEO of Arca, said, "As we offer investors this new regulated digital investment product, it represents a groundbreaking and transformative step toward the unification of traditional finance and digital asset investing."

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Arca Labs, Arca's digital development arm, chose the Ethereum blockchain using the ERC-1404 protocol, according to the June 24 prospectus.

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Erc-1404 is a more stringent derivative of the ERC-20 interoperability Protocol. The main difference is that the ERC-1404 limits where the holder can send tokens to the whitelist address set. This is a key point for regulators sensitive to token holders.

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