Centrifuge Partners S&P 500 to Launch First Tokenized S&P 500 Index Fund

Blockchain infrastructure platform Centrifuge has announced a partnership with S&P Dow Jones Indices (S&P DJI) to introduce the S&P 500 Index onto the blockchain for the first time. This collaboration heralds the creation of a novel “proof-of-index” infrastructure. This is designed to facilitate the issuance of programmable, on-chain index-tracking products.

Notably, this new project enables the creation of digital tokens that track the performance of the S&P 500. Using Centrifuge’s blockchain platform, these tokenized funds will use official S&P DJI data.

S&P 500 Collab with Centrifuge

Traders move over $1 trillion in the S&P 500 daily through various products like ETFs and derivatives. Consequently, making this index accessible and usable on the blockchain is highly significant.

Cameron Drinkwater, Chief Product Officer at S&P Dow Jones Indices, stated,

“This marks the beginning of an exciting chapter, extending The 500™ to new applications and audiences globally.”

S&P DJI-licensed asset managers can use this agreement to create and launch blockchain-based funds. These funds will meet high industry standards while leveraging DeFi’s flexibility and openness.

Interestingly, Anemoy Capital, a company focused on Web3, was the first to get a license to create the Janus Henderson Anemoy S&P 500 Index Fund. Moreover, this fund will utilize S&P DJI index data and Centrifuge’s tools for tracking the index and for setting up its smart contract.

Nick Cherney, Janus Henderson’s Head of Innovation, mentioned the success of their previous tokenized fund projects with Centrifuge. He pointed out that one strategy they developed with Centrifuge reached $1 billion in managed assets very quickly, faster than any other tokenized fund before.

Tokenized Fund Triggers New Integration

The launch of the tokenized S&P 500 fund will open up new investment opportunities. Investors will be able to buy, own, and trade access to the S&P 500 directly on the blockchain. These tokens can also be used as collateral in DeFi projects or for automating portfolio management.

This offers a level of integration and utility not previously seen in traditional markets. Anil Sood of Centrifuge explained this vision, stating:

“It’s about taking everything we learned in traditional markets and rethinking it with programmability, transparency, and global, 24/7 access.”

Notably, Centrifuge will officially launch the tokenized S&P 500 fund at the Centrifuge RWA Summit in Cannes, demonstrating its proof-of-index system.

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