According to a press release from CoIntelegraph, the blockchain infrastructure platform centrifuge has partnered with the S&P Jones Index (S&P DJI) to bring the S&P 500 Onchain to Cointelegraph for the first time.
The collaboration, according to the announcement, introduced the index infrastructure of tokenized products and introduced the first marked S&P 500 index fund in the announcement.
The fund is built on a local blockchain platform for centrifuges, using official S&P DJI indexed data through Smart contracts.
“Today is the beginning of an exciting chapter that extends the 500™ to new users and users around the world,” said Cameron Drinkwater, chief product officer at Dow Jones Indices, Standard & Poor’s Dow Jones Indices.
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Licensed Manager is liquidated to initiate OnChain Funds
The program sets the way for asset managers licensed by S&P DJI to launch aligned with institutional standards while leveraging the flexibility and transparency of diversified financing.
Web3 local asset manager Anemoy Capital has obtained the first license to build the Janus Henderson Anemoy S&P 500 Index Fund isolation portfolio. S&P DJI index data and centrifugal power index exposure and smart contract infrastructure.
Nick Cherney, head of innovation at Janus Henderson, said they gained significant appeal with their earlier token funds from centrifuges, and a strategy managed assets faster than any previous tagged fund.
The S&P 500 is at the heart of the global market, with over $1 trillion Trading in ETFs every day,,,,, derivative and other products. Bringing on the index Onchain will enable investors to buy, hold, trade, use it as collateral or automate portfolio strategies.
“It’s about everything we’ve learned in the traditional market and reimagined through programmability, transparency and global accessibility,” said Anil Sood of the centrifuge.
The Tag 500 Index Fund will officially launch on Tuesday’s centrifuge RWA summit in Cannes, along with the centrifuge proof infrastructure, aims to standardize tokenized index products.
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Utilities are still key
Centrifuges bring action brought by S&P 500 OnChain as industry leaders warn Symbolization is not enough. KeyRock CEO Kevin de Patoul told Cointelegraph that tokenization “needs actual utilities” to thrive.
“If I can’t handle assets in a token form that I couldn’t have done before, it’s just friction and cost,” he said.
De Patoul added that liquidity is also crucial to the tokenized market, noting that consistent marketing converts token assets into available financial tools.
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