Grove Expands to Avalanche: $250M Tokenized Asset Deployment in the Sky Ecosystem
Grove, an institutional-grade credit protocol incubated by the Sky (formerly MakerDAO) ecosystem, has announced a major expansion to the Avalanche blockchain. The protocol aims to deploy up to $250 million in tokenized real-world assets (RWAs) as part of Avalanche’s strategic push to grow its institutional finance footprint.
What’s Happen?
Grove will invest in tokenized credit and U.S. Treasury products—specifically, the Janus Henderson Anemoy AAA CLO Fund (JAAA) and the Anemoy Treasury Fund (JTRSY)—via the Centrifuge platform. Janus Henderson, a major global asset manager with $373B AUM, is partnering in this initiative. This move will more than double Avalanche’s total on-chain RWA value, bringing significant capital and new opportunities for diversified, programmable credit markets.
Ecosystem Impact:
By leveraging Avalanche’s high-speed, low-cost blockchain and Centrifuge’s tokenization expertise, Grove is expected to accelerate the integration of traditional finance with DeFi infrastructure. The protocol’s approach opens scalable, on-chain credit markets to both crypto-native and institutional investors.
Industry Significance:
This expansion strengthens Avalanche’s position as a leading platform for RWAs, competing directly with Ethereum and drawing interest from institutions eager to explore tokenized bonds, loans, and funds. It underscores a broader trend of real assets moving on-chain, creating more liquid and accessible markets.
Who is Grove?
Developed by alumni of Deloitte, Citigroup, BlockTower, and incubated under Sky, Grove previously helped MakerDAO scale into the tokenized Treasury market and is now replicating that model in structured credit.
