Blockchain infrastructure platform Centrifuge has teamed up with S&P Dow Jones Indices (S&P DJI) to convey the S&P 500 Index onchain for the primary time, in response to a press launch shared with Cointelegraph.
The collaboration introduces proof-of-index infrastructure for tokenized merchandise and the debut of the primary tokenized S&P 500 Index fund, per the announcement.
Constructed on Centrifuge’s blockchain-native platform, the fund makes use of official S&P DJI index knowledge to supply programmable index-tracking funds by way of good contracts.
“Immediately is the beginning of an thrilling chapter that extends The five hundred™ into new use circumstances and customers throughout the globe,” stated Cameron Drinkwater, chief product officer at S&P Dow Jones Indices.
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Licensed managers cleared to launch onchain funds
The initiative clears the best way for S&P DJI-licensed asset managers to launch onchain funds that align with institutional requirements whereas harnessing the pliability and transparency of decentralized finance.
Web3 native asset supervisor Anemoy Capital has secured the primary license to construct the Janus Henderson Anemoy S&P 500 Index Fund Segregated Portfolio. S&P DJI index knowledge and Centrifuge energy the index publicity and smart-contract infrastructure.
Nick Cherney, Janus Henderson’s head of innovation, stated their earlier tokenized funds with Centrifuge have gained notable traction, with one technique reaching $1 billion in property beneath administration sooner than any earlier tokenized fund.
The S&P 500 is central to international markets, with over $1 trillion traded every day in ETFs, derivatives and different merchandise. Bringing the index onchain will enable buyers to purchase, maintain, commerce, use it as collateral or automate portfolio methods.
“It’s about taking every thing we realized in conventional markets and reimagining it with programmability, transparency, and international, 24/7 accessibility,” Centrifuge’s Anil Sood stated.
The tokenized S&P 500 fund will formally launch on Tuesday on the Centrifuge RWA Summit in Cannes, alongside Centrifuge’s proof-of-index infrastructure, which goals to standardize tokenized index merchandise.
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Utility stays key
Centrifuge’s transfer to convey the S&P 500 onchain comes as trade leaders warn that tokenization alone isn’t sufficient. Kevin de Patoul, CEO of Keyrock, informed Cointelegraph that tokenization “wants precise utility” to thrive.
“If there isn’t one thing I can do with the asset in a tokenized type that I couldn’t do earlier than, then it’s simply friction and price,” he stated.
De Patoul added that liquidity can also be essential for tokenized markets, noting that constant market-making turns tokenized property into usable monetary instruments.
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