Digital Funds seeks to launch Tokenized S&P 500 Fund

04/18 15:46

Digital Funds has filed to launch a Tokenized S&P 500 EW Index Fund that would primarily invest in the securities of issuers included in the S&P 500 Equal Weight Index, according to a regulatory disclosure filed last week. Though the fund’s official record of share ownership would be maintained in book-entry form, they will also be recorded — as digital tokens — on the Algorand blockchain, the filing states. Fund shares may eventually be recorded on other blockchain protocols. The fund will not invest in any assets that rely on blockchain technology, such as cryptocurrencies, the filing states.
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