London-based global asset manager Janus Henderson, which manages roughly $500 billion in assets, has launched an officially licensed equity index fund on the blockchain dubbed JQQQ. The investment product was developed in partnership with tokenization platform Centrifuge and issued directly on the Stellar (XLM) network.
The JQQQ fund tracks the performance of the Nasdaq-100 Index, a capital market benchmark comprising Wall Street technology giants such as Apple, Microsoft, and Nvidia. This launch expands Janus Henderson’s onchain portfolio following the rollout of its first index product last year, the Janus Henderson Anemoy S&P 500 Fund (SPXA), which was officially licensed by S&P Dow Jones Indices.
The legal and regulatory framework behind the issuance marks a key differentiator for this product compared to earlier equity tokenization efforts across the crypto asset industry.
A Different Path from Third-Party Stock Tokens
In bringing the fund to market, Janus Henderson adopted an issuer-sponsored model. The responsibilities are divided three ways: Janus Henderson acts as the issuer and fund manager, Centrifuge provides the underlying blockchain infrastructure, and Nasdaq officially licenses the benchmark index.
This direct licensing approach sets JQQQ apart from third-party stock tokens, which have frequently triggered legal controversies. Issuer resistance was previously highlighted when 22 companies filed formal objections against plans to tokenize their shares on the OKX-ICE exchange.
Securing licensing support from the index owner is designed to guarantee certainty around market data usage rights. Sean Wasserman, Head of Index Product Management at Nasdaq, stated that the move responds to surging investor demand for transparent benchmark access through digital infrastructure.
$1 Billion Portfolio and DeFi Collateral Potential
The expansion onto the Stellar network boosts the total value of real-world assets managed by Janus Henderson’s onchain division. The firm’s onchain investment platform currently oversees more than $1 billion in assets. The portfolio includes U.S. Treasuries, structured credit, and equities.
For infrastructure providers, the availability of a licensed index fund unlocks new utility across decentralized finance. Anil Sood, Chief Strategy and Growth Officer at Centrifuge, emphasized that tokenizing premier index assets can serve as a fundamental building block for the onchain financial ecosystem. Beyond functioning as investment instruments, these asset units hold potential to be used as loan collateral on decentralized applications.
For crypto market participants and Stellar network users, the launch of JQQQ highlights a new direction for traditional asset tokenization: transitioning from unauthorized synthetic tokens toward officially backed products supported by global fund managers and exchange index owners.
Reported via CoinDesk.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
