Centrifuge launches tokenized S&P 500 index SPXA on Base

Centrifuge has rolled out a tokenized version of the S&P 500 index, the Janus Henderson Anemoy S&P 500 Fund (SPXA), on the Base blockchain.

Centrifuge debuts tokenized S&P 500 index on Layer-2 blockchain Base

Centrifuge has launched the Janus Henderson Anemoy S&P 500 Fund, SPXA, on the Ethereum Layer 2 network Base, bringing one of the most popular equity benchmarks on-chain.

The product, launched in partnership with the S&P Dow Jones Indices (DJI), represents the first licensed tokenized S&P 500 product, offering 24-hour access to the index, according to a statement on Thursday.

“Indices are the best way to bring stocks onchain: they’re simple, collateral-ready, and unlock liquidity in ways individual securities can’t,” said Bhaji Illuminati, CEO of Centrifuge.

SPXA is managed by Anemoy Capital and JHI Advisors, with FalconX Global as the anchor investor. The fund will also use Wormhole to enable multichain expansion in the future.

It combines Janus Henderson’s asset management expertise, S&P DJI’s established benchmarks, and Centrifuge’s tokenization and Proof-of-Index technology, noted Centrifuge.

“Blockchain is a transformative opportunity for S&P DJI, and Centrifuge is a collaborator with a shared vision to build the future of index-linked financial products,” said Cameron Drinkwater, Chief Product Officer at S&P Dow Jones Indices.

SPXA’s launch reflects a growing trend among crypto firms and traditional financial institutions to bring traditional assets, such as bonds, funds, and equities, on-chain through tokenization.

Asset managers Franklin Templeton and BlackRock are among the popular traditional firms with actively traded tokenized products, through the FOBXX and BUIDL funds.

Nasdaq also submitted a proposal to the US Securities and Exchange Commission (SEC) earlier in the month to allow trading of tokenized products on its exchange. The plan would allow the trading and issuance of blockchain-based equities and exchange-traded funds (ETFs) alongside their traditional counterparts.

Crypto exchanges, including Kraken and Robinhood, have also launched tokenized versions of US stocks on their respective platforms.