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      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
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          <ccc>XXXXXXXX</ccc>
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      </filer>
      <investmentCompanyType>N-2</investmentCompanyType>
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    <generalInfo reportEndingPeriod="2023-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
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      <investmentCompFileNo>811-23392</investmentCompFileNo>
      <registrantCik>0001758583</registrantCik>
      <registrantLei>5493003T15791YSVP032</registrantLei>
      <registrantstreet1>4551 Glencoe Avenue, Suite 350</registrantstreet1>
      <registrantcity>Marina Del Rey</registrantcity>
      <registrantzipCode>90292</registrantzipCode>
      <registrantstate>US-CA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>513-869-4335</registrantphoneNumber>
      <websites>
        <website webpage="https://arcoin.arcalabs.com/"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Ultimus Fund Solutions LLC</officeName>
          <officeAddress1>4221 North 203rd Street</officeAddress1>
          <officeAddress2>Suite 100</officeAddress2>
          <officeCity>Elkhorn</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NE"/>
          <officeRecordsZipCode>68022</officeRecordsZipCode>
          <officePhone>631-470-2600</officePhone>
          <booksRecordsDesc>Fund Accounting Records</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Jeffrey J. Gary</directorName>
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        <director>
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            <fileNumberInfo fileNumber="N/A"/>
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        <director>
          <directorName>Bruce H. Park</directorName>
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            <fileNumberInfo fileNumber="N/A"/>
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        <director>
          <directorName>Daniel A. Strachman</directorName>
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            <fileNumberInfo fileNumber="811-23599"/>
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      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Douglas N. Tyre</ccoName>
          <crdNumber>004556156</crdNumber>
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          <ccoStreet2>3rd Floor</ccoStreet2>
          <ccoCity>Portland</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-ME"/>
          <ccoZipCode>4101</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="ACA Group" ccoEmployerId="02-0757866"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-34055"/>
        <releaseNumberInfo releaseNumber="IC-34026"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>UMB Distribution Services</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-42106</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000025938</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-WI"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>N</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>RSM US LLP</publicAccountantName>
          <pcaobNumber>49</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-CO"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
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        <mgmtInvFundName>Arca U.S. Treasury Fund</mgmtInvFundName>
        <mgmtInvLei>5493003T15791YSVP032</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <fundTypes>
          <fundType>Interval Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Arca Capital Management</investmentAdviserName>
            <investmentAdviserFileNo>801-118646</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000305964</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Securitize LLC</transferAgentName>
            <transferAgentFileNo>084-06638</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-CA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>UMB Bank, NA</custodianName>
            <custodianLei>VNOO6EITDJ2YUEBMSZ83</custodianLei>
            <custodianStateCountry custodianState="US-MO" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>N/A</adminLei>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>UMB Bank, NA</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>VNOO6EITDJ2YUEBMSZ83</principalLei>
            <principalStateCountry principalState="US-MO" principalCountry="US"/>
            <principalTotalPurchaseSale>869348.00000000</principalTotalPurchaseSale>
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        </principalTransactions>
        <principalAggregatePurchase>869348.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>379879.00000000</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>N/A</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="N/A"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
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      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.00050000</managementFee>
      <netOperatingExpenses>0.00749999</netOperatingExpenses>
      <marketPricePerShare>1.00000000</marketPricePerShare>
      <netAssetValuePerShare>1.00000000</netAssetValuePerShare>
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    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="Arca U.S. Treasury Fund" signedDate="2024-03-06" signature="Vance Sanders" title="Treasurer"/>
  </formData>
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