According to Cointelegraph, blockchain infrastructure platform Centrifuge has partnered with S&P Dow Jones Indices (S&P DJI) to introduce the S&P 500 Index onchain for the first time. This collaboration marks the debut of proof-of-index infrastructure for tokenized products and the launch of the first tokenized S&P 500 Index fund. Built on Centrifuge’s blockchain-native platform, the fund utilizes official S&P DJI index data to offer programmable index-tracking funds through smart contracts.
Cameron Drinkwater, chief product officer at S&P Dow Jones Indices, expressed enthusiasm about the new venture, stating that it opens up new use cases and users globally. Centrifuge provides tokenized real-world asset pools for investors, and this initiative allows S&P DJI-licensed asset managers to launch onchain funds that meet institutional standards while benefiting from the flexibility and transparency of decentralized finance. Anemoy Capital, a Web3 native asset manager, has obtained the first license to develop the Janus Henderson Anemoy S&P 500 Index Fund Segregated Portfolio, powered by S&P DJI index data and Centrifuge's smart-contract infrastructure.
Nick Cherney, head of innovation at Janus Henderson, highlighted the success of their previous tokenized funds with Centrifuge, noting that one strategy reached $1 billion in assets under management faster than any prior tokenized fund. The S&P 500 plays a crucial role in global markets, with over $1 trillion traded daily in ETFs, derivatives, and other products. Bringing the index onchain will enable investors to buy, hold, trade, use it as collateral, or automate portfolio strategies. Anil Sood from Centrifuge emphasized the potential of reimagining traditional markets with programmability, transparency, and global, 24/7 accessibility.
The tokenized S&P 500 fund is set to officially launch at the Centrifuge RWA Summit in Cannes, alongside Centrifuge’s proof-of-index infrastructure, which aims to standardize tokenized index products. However, industry leaders caution that tokenization alone is insufficient. Kevin de Patoul, CEO of Keyrock, stressed the importance of actual utility for tokenized assets to thrive. He pointed out that without unique functionalities, tokenization merely adds friction and cost. De Patoul also highlighted the necessity of liquidity in tokenized markets, noting that consistent market-making is essential for transforming tokenized assets into practical financial tools.