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Arca Funds 'cautiously optimistic' SEC will soon approve its stablecoin

Arca Funds CEO Rayne Steinberg and portfolio manager Jeff Dorman tell Proactive Investors the cryptocurrency fund plans to launch its Arca stablecoin using the fund structure of the Investment Company Act of 1940 and represent it on the blockchain.

Steinberg, who previously co-founded ETF sponsor and index developer WisdomTree Investments (NASDAQ:WETF), says the company is "cautiously optimistic" the SEC's approval process for its stablecoin Arca won't take long.

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