Janus Henderson and Centrifuge Launch JQQQ, a Nasdaq-100 Fund on Stellar

Asset manager Janus Henderson and tokenization firm Centrifuge launched JQQQ on Tuesday, a fund that tracks the Nasdaq-100 Index and is issued directly on a blockchain. Janus Henderson's release calls it the "first blockchain native fund offering exposure to the Nasdaq-100 Index® through an issuer-sponsored investment strategy," licensed from Nasdaq. It's launching only on the Stellar network. The Stellar Development Foundation and Centrifuge put out their own announcements.

Ahead of #Meridian2026, @JHIAdvisors and @centrifuge announced the launch of the first blockchain native fund offering exposure to the @Nasdaq-100 Index through an issuer-sponsored investment strategy.

This is TradFi onchain. Built on Stellar.https://t.co/ZnXW2IaerM

— Stellar | Meridian Oct 28-29 (@StellarOrg) October 27, 2026

What "issuer-sponsored" means here

There are two ways to get stock exposure on a blockchain. One is a third-party token, where an outside company acquires shares and issues tokens that track them. The other is what Janus Henderson is doing: the fund manager itself issues and runs the fund, Centrifuge provides the blockchain plumbing, and Nasdaq licenses the index. CoinDesk frames it the same way and notes that JQQQ follows a similar S&P 500 fund, SPXA, launched last year.

Who it's open to

Not most people reading this. The release says the fund "is not available to U.S. persons." The fund's page on Centrifuge lists it as a British Virgin Islands professional fund for non-U.S. professional investors only, with:

• a minimum investment of 100,000 USDC
• a 0.10% expense ratio and T+1 settlement
• J.P. Morgan as custodian and Trident Trust as administrator
• Janus Henderson as sub-investment manager, under Anemoy Asset Management
• a status of "Seeding soon," with an inception date of Oct. 27, 2026

So it's launched, but money hasn't necessarily gone in yet.

What's inside

A Nasdaq-100 fund holds what the index holds, and that's concentrated. Per the index data on the fund page, the top 10 names made up 46.86% of the index as of Sept. 30, and tech was about 68%.

The bigger picture

Janus Henderson says its onchain platform now holds more than $1 billion across U.S. Treasuries, structured credit and public equities, and the firm manages about half a trillion dollars overall. The release says real-world assets on Stellar passed $4 billion in 2026. Denelle Dixon, who runs the Stellar Development Foundation, said she expects "many more products like this to follow."

Why it matters to a regular holder

Most tokenized funds so far have been cash-like: Treasuries and money market funds. This one is a stock index fund from a major manager. That's a step outside the cash-like stuff, even if U.S. investors can't use it. Our tokenization explainer covers the basics. For more on Stellar and tokenized stocks, see our pieces on Stellar's first institutional repo and the SEC's list of tokenized stock venues.