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Janus Henderson and tokenization platform Centrifuge launched a blockchain-based fund tracking the Nasdaq-100 Index on Stellar, according to Cointelegraph. The product, called JQQQ, was announced on Tuesday, Oct. 27, 2026, and targets eligible professional investors outside the United States.
Cointelegraph reported that the fund uses Centrifuge’s tokenization infrastructure and seeks to track the benchmark under a licensing agreement with the exchange. CryptoBriefing reported that JQQQ is the first tokenized fund licensed to replicate the Nasdaq-100. Access is currently limited to eligible non-US professional investors with at least $100,000 to commit, Cointelegraph noted, citing the Wall Street Journal.
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Key facts
- JQQQ is structured as a segregated portfolio of a British Virgin Islands investment company and offers indirect exposure to the Nasdaq-100 rather than ownership of the underlying stocks, per Cointelegraph.
- The Wall Street Journal, as cited by Cointelegraph, reported a $100,000 minimum investment for eligible non-US professional investors.
- Janus Henderson said its institutional onchain strategies now exceed $1 billion, Cointelegraph reported.
- Cryptobriefing reported that Janus Henderson manages roughly $500 billion in total assets and has approximately 200 crypto wallets onboarded to its platform.
- Stellar holds about $3.8 billion in tokenized assets, ranking fourth among blockchains behind Ethereum, BNB Chain and Solana, according to RWA.xyz data cited by Cointelegraph.
From Treasurys and credit to equity indexes
The launch moves Janus Henderson’s onchain lineup beyond US Treasurys and structured credit into equity-index exposure. Cryptobriefing reported that the firm’s tokenized products include strategies focused on Treasurys and AAA-rated collateralized loan obligations, with the Janus Henderson Anemoy Treasury Fund, ticker JTRSY, among the better-known offerings.
Both outlets tied the timing to Nasdaq’s licensing decisions. Cointelegraph said the launch follows Nasdaq’s April decision to expand licensing of its Nasdaq-100 Index to additional asset managers, including BlackRock and State Street, while keeping its longstanding partnership with Invesco, which operates the Invesco QQQ Trust ETF, described by Cointelegraph as having a $499 billion market cap. Cryptobriefing said Nasdaq’s early 2026 expansion of licensing opportunities opened the door for the launch.
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Stellar’s tokenization footprint
Stellar now hosts tokenized assets from issuers including Spiko, Franklin Templeton and Ondo, Cointelegraph reported. In July, tokenization platform Tradable announced plans to bring up to $1 billion in private credit assets to Stellar, with $500 million expected at launch. The Depository Trust & Clearing Corporation announced in May that it would connect its tokenization service to the network, with DTCC-tokenized assets expected in the first half of 2027, potentially including US Treasurys, major index ETFs and Russell 1000 stocks.
Cryptobriefing framed JQQQ as placing a recognizable Wall Street benchmark on Stellar’s network and adding an equity product to Centrifuge’s real-world asset work, noting the platform has positioned itself as infrastructure for institutional funds rather than a consumer brand.
Why it matters
The product tests whether Janus Henderson can repeat its tokenized bond and credit playbook with an equity index, and it gives Stellar a licensed benchmark product that fits its pitch as infrastructure for regulated assets. The licensing requirement is the pivot: without it, an onchain index product is effectively a knockoff, while a licensing agreement allows an institutional allocator to see a familiar index name. The $100,000 minimum and professional-investor restriction mean fractional ownership of large-cap equities is not reaching retail through this fund yet.
Despite the expansion of Stellar’s tokenized asset market, its native token, XLM, has fallen about 16% year to date, trading near $0.17 on Tuesday, according to CoinGecko data cited by Cointelegraph.
What to watch
The next concrete marker is the DTCC-tokenized assets expected on Stellar in the first half of 2027. Also worth tracking is whether other index providers follow Nasdaq in loosening licensing terms for onchain products.
Reported by cointelegraph.com.
Sources: Cointelegraph, Cryptobriefing