Janus Henderson and asset tokenization platform Centrifuge have announced JQQQ, a fund designed to track the Nasdaq 100 Index. The tokenized fund, to be issued on the Stellar network, will provide blockchain-based access to the US equity market. In their October 27 announcement, the companies said the product was developed under an index licensing agreement with Nasdaq.
Janus Henderson, which manages approximately $500 billion in assets, is expanding its onchain investment offerings with the new product. The Nasdaq 100 includes major companies such as Nvidia, Apple, and Microsoft. JQQQ aims to give investors exposure to the index’s performance through a tokenized fund.
JQQQ Sets a Minimum Investment of 100,000 USDC
The fund initially targets eligible professional investors outside the United States. According to The Defiant, citing Centrifuge’s investment portal, the minimum subscription will be 100,000 USDC. Investors will therefore use the dollar-backed stablecoin to subscribe to the fund.
However, the announcement does not necessarily mean the fund has started accepting investments. The same report states that Centrifuge’s portal shows subscriptions are not yet open. The product’s announcement and the date investors can actually subscribe are therefore separate milestones.
How Nasdaq’s License and Fund Management Roles Differ
Official documents also outline the fund’s legal structure. JQQQ is a segregated portfolio of Anemoy Capital SPC Limited, a company based in the British Virgin Islands. Anemoy Asset Management serves as investment manager, while Janus Henderson Investors US LLC acts as sub-investment manager.
Centrifuge provides the fund’s blockchain infrastructure. Nasdaq’s role covers licensing the index; the company does not act as the fund’s issuer or guarantee the investment. Disclosures accompanying the announcement specifically state that Nasdaq does not endorse, sell, or promote the product.
Nasdaq 100 Move Follows S&P 500 Collaboration
JQQQ extends the companies’ efforts to bring equity indexes onto blockchain infrastructure. S&P Dow Jones Indices announced a collaboration with Centrifuge to tokenize exposure to the S&P 500 Index on July 1, 2025.
That project envisioned a fund structure involving Anemoy Capital and Janus Henderson. According to S&P Dow Jones Indices’ announcement, the investment product would be built on Centrifuge’s infrastructure, with investors accessing it through blockchain technology. The JQQQ announcement extends that approach to another major US equity benchmark.
Janus Henderson’s partnership with Centrifuge began earlier with US Treasury bills. In September 2024, the company announced a strategic partnership involving Anemoy’s Liquid Treasury Fund. The product aimed to provide investors with access to short-term US Treasury bills.
At the time, Janus Henderson said it would take on portfolio management responsibilities through its subsidiary Tabula. Its expansion from Treasury bills to equity indexes shows how the company is incorporating different asset classes into tokenized fund structures.
According to Janus Henderson’s latest announcement, its onchain institutional investment strategies now exceed $1 billion in total assets. That figure covers US Treasuries, structured credit, and equities; it does not represent the size of JQQQ alone.
