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Janus Henderson brings Nasdaq-100 fund onchain with JQQQ

Janus Henderson and Centrifuge launched JQQQ on Stellar, bringing Nasdaq-100 exposure onchain through a licensed fund for eligible investors outside the U.S.

Uruguay Can Editorial

Janus Henderson brings Nasdaq-100 fund onchain with JQQQ

The Nasdaq-100 had not yet been offered through a blockchain-native, issuer-sponsored fund; on Oct. 27, Janus Henderson and Centrifuge announced JQQQ, which seeks to track the index on Stellar. The companies say it is the first fund of its kind to offer Nasdaq-100 exposure under an issuer-sponsored strategy, with Nasdaq licensing the index.

According to Janus Henderson’s announcement, JQQQ is built to operate on public blockchain infrastructure. That makes it different from simply putting a digital representation of an existing security onchain: the fund is designed for issuance and operation on blockchain rails from the outset.

Who issues and operates JQQQ?

The launch splits the roles among three firms. CoinDesk’s report says Janus Henderson issues and manages the fund, Centrifuge provides the blockchain infrastructure, and Nasdaq licenses the index it seeks to track. The fund launches exclusively on Stellar, according to Janus Henderson.

  1. Janus Henderson brings its investment management to the product.
  2. Centrifuge supplies the infrastructure for the onchain fund.
  3. Nasdaq licenses the benchmark that JQQQ seeks to follow.

Who can invest, and what does a tokenized share mean?

JQQQ is available only to eligible investors where it may lawfully be offered and marketed, and is not available to U.S. persons, Janus Henderson says. Its shares provide indirect economic exposure to the fund’s performance; they do not give holders beneficial ownership of the Nasdaq-100 or shareholder rights in its constituents.

The companies say the fund could connect with digital financial applications and that shares may have potential uses such as collateral. Those uses depend on independent third parties and may not be available to every investor or in every jurisdiction. Janus Henderson also warns that tokenized shares carry risks tied to blockchains, smart contracts, wallets and third-party platforms, including possible delays or losses.

Sources