Janus Launches First Tokenized Fund Licensing the Nasdaq-100 Index -- WSJ
Dow Jones2026/10/27 12:00By Vicky Ge Huang
Janus Henderson is launching the first-ever licensed tokenized fund tracking the Nasdaq-100 Index, marking Wall Street's latest push to bring traditional assets onto the digital ledger that underpins cryptocurrencies.
The details
Janus will manage the new fund, which will trade under the ticker "JQQQ" and run on technology provided by the tokenization firm Centrifuge. It is initially available to eligible non-U.S. professional investors on the Stellar network, a blockchain focused on tokenized assets. The fund has a minimum investment of $100,000.
A favored benchmark for Big Tech, the Nasdaq-100 is composed of the 100 largest nonfinancial companies listed on the Nasdaq Stock Market. Among its members: Nvidia, Apple and Tesla. Janus said it reached a deal with Nasdaq to license the Nasdaq-100 Index
Historically, Invesco held a virtually exclusive position in offering U.S. exchange-traded funds that track the Nasdaq-100. It helped Invesco's QQQ Trust accumulate roughly half a trillion dollars in assets and become the biggest fund tracking the index. That changed this year as Nasdaq started to open direct Nasdaq-100 Index licensing to other asset managers like BlackRock and State Street.
The context
Janus, which was recently taken private by Nelson Peltz's Trian Fund Management and venture-capital firm General Catalyst, has emerged as a major player in tokenization.
The company oversees more than $1 billion in blockchain-based funds spanning Treasurys, structured credit and equities, a small but growing slice of its approximately $500 billion in total assets under management. Janus has onboarded about 200 crypto wallets to its tokenized fund platform and plans to launch more tokenized funds, according to Nick Cherney, head of innovation at Janus Henderson.
"Our view is the same as it was when we started two years ago, which is that at some point all the financial services will move on chain," said Cherney. "It's incredibly critical."
The big picture
Wall Street money managers like BlackRock and Franklin Templeton are increasingly rolling out traditional funds on the blockchain to tap a new wave of investors who are accustomed to managing assets through their crypto wallets.
Meanwhile, index providers like S&P Dow Jones Indices and Nasdaq have joined with crypto companies to develop digital-assets-focused benchmarks or products.
Together, these moves reflect the accelerating pace of digital-assets adoption across finance, as traditional institutions race to put everything from commodities to equities on the blockchain.
However, resistance is emerging, with several corporate issuers objecting to a new regulatory framework that allows third-party platforms to trade tokenized versions of their shares.
Write to Vicky Ge Huang at vicky.huang@wsj.com
(END) Dow Jones Newswires
October 27, 2026 08:00 ET (12:00 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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