Janus Henderson and Centrifuge launched JQQQ on October 27, an onchain fund that tracks the Nasdaq-100 Index and is issued on the Stellar blockchain, CoinDesk reported. It is issuer-sponsored: Janus Henderson issues and manages the fund, Centrifuge provides the blockchain infrastructure and Nasdaq licenses the index, which includes companies such as Nvidia, Apple and Microsoft. Janus Henderson, a London-based asset manager overseeing roughly $500 billion, says its onchain platform holds more than $1 billion across Treasuries, structured credit and equities. Its earlier Anemoy S&P 500 Fund (SPXA), launched in 2025, was the first tokenized index fund licensed by S&P Dow Jones Indices. The article does not say who can buy JQQQ, including whether U.S. investors are eligible, and it gives no fees.
Nasdaq’s Sean Wasserman said “demand continues to grow for exposure to established, transparent benchmarks,” while Centrifuge’s Anil Sood said tokenization becomes much more powerful when the assets investors want to own can also become building blocks. Unlike third-party stock tokens, whose holders may not own the underlying shares or receive shareholder rights, issuer-sponsored funds are issued by the manager itself.
Tokenized stocks are also growing in DeFi. Token Terminal data cited by Cryptonews shows deposits of tokenized stocks in DeFi passed $300 million, up from $262 million a month earlier and about $11.8 million a year ago, a rise of 2,451.5%, or roughly 25 times. Activity was flat through the first half of 2026: total value locked was $80.1 million at the start of the third quarter and reached $265 million by September 30. Deposits span 20 issuers and 10 chains, with Solana the largest at $102.6 million, or 34.2%, followed by Robinhood Chain and Ethereum. xStocks holds more than 39% of deposits, ahead of Robinhood with $70.8 million and Binance bStocks with $38.4 million. Binance enabled bStocks in June, and Robinhood Chain’s public blockchain launched in July.
DeFi remains a small part of the whole. The tokenized stock market is about $4.4 billion across 13,411 stocks from 36 issuers on 18 chains, so DeFi deposits are only about 6.8% of the total. This is news, not investment advice.
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Sources:
- CoinDesk: Nasdaq-100 comes onchain as Janus Henderson and Centrifuge launch first licensed fund
- Cryptonews: Tokenized stocks in DeFi top $300 million, up 25x in a year
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