Janus Henderson and Centrifuge Launch Nasdaq-100 Tokenized Fund on Stellar
Janus Henderson and blockchain tokenization platform Centrifuge have launched JQQQ, a fund tracking the Nasdaq-100 Index on the Stellar blockchain, marking another step in the expansion of tokenized traditional investments into equity markets.
The fund, announced Tuesday, is issued on Stellar and tracks an index that includes major technology companies such as Nvidia, Apple and Microsoft. Janus Henderson, a London-based asset manager overseeing approximately $500 billion, is using an issuer-sponsored structure in which the asset manager issues and manages the fund, Centrifuge supplies the blockchain infrastructure, and Nasdaq licenses the underlying index.
Janus Henderson Expands Its Onchain Investment Platform
JQQQ builds on Janus Henderson's earlier move into blockchain-based index products. Last year, the firm introduced the Janus Henderson Anemoy S&P 500 Fund (SPXA), described as the first tokenized index fund licensed by S&P Dow Jones Indices.
Janus Henderson said its onchain investment platform now encompasses more than $1 billion in assets across U.S. Treasuries, structured credit and equities. The addition of a Nasdaq-100-linked product further broadens its range of blockchain-based investment offerings.
The launch reflects a wider shift in financial markets, where asset managers and other financial institutions are extending tokenization beyond U.S. Treasuries, money market funds and private credit into products linked to publicly traded stocks.
Issuer-Sponsored Funds Differ From Third-Party Stock Tokens
The structure of JQQQ highlights an important distinction in the tokenization market: products issued by the companies responsible for managing the underlying investments versus tokens created by outside providers.
Under the issuer-sponsored approach, Janus Henderson manages and issues the fund, while Centrifuge provides the blockchain infrastructure and Nasdaq authorizes use of its index. Third-party stock tokens, by contrast, may represent claims backed by shares held in custody or operate as separate financial instruments designed to track stock prices.
Investors in third-party products do not necessarily own the underlying shares or receive shareholder rights. That difference has become a central issue as financial institutions debate how traditional securities should be represented and traded on blockchain networks.
The debate intensified recently after 22 companies objected to plans for blockchain-based trading of their shares on the OKX-ICE venue. The objections added to questions over whether companies should have a say in how their shares are tokenized and distributed through third-party platforms.
Nasdaq and Centrifuge Highlight Demand for Onchain Market Access
Sean Wasserman, Nasdaq's head of index product management, said investors were increasingly seeking access to established market benchmarks through digital infrastructure.
“As investors explore new ways to access markets through digital infrastructure, demand continues to grow for exposure to established, transparent benchmarks,” Wasserman said.
Anil Sood, Centrifuge's chief strategy and growth officer, said tokenization could become more useful when blockchain-based assets can function within a broader financial ecosystem rather than simply replicate conventional investments digitally.
“Tokenization becomes much more powerful when the assets investors want to own can also become building blocks for an onchain financial system,” Sood said.
Potential Uses Depend on Regulation and Platform Support
Tokenized funds could eventually allow investors to use their holdings as collateral for loans or transfer them between blockchain-based financial applications. Whether those functions are available will depend on regulatory requirements and support from the platforms involved.
The launch of JQQQ demonstrates how asset managers are exploring blockchain infrastructure for investment products linked to established stock indexes. It also underscores the continuing distinction between funds created with the involvement of the relevant issuers and index providers and third-party tokens that track securities without necessarily conferring ownership rights.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Check out other news and articles on Google News
Disclaimer:
The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.