Janus Henderson and Centrifuge launched JQQQ on October 27, 2026, a blockchain-based fund tracking the Nasdaq-100 Index on Stellar for eligible investors outside the United States. The fund requires a minimum investment of $100,000 and is structured as a segregated portfolio of a British Virgin Islands investment company, providing indirect exposure to the Nasdaq-100 rather than direct ownership of underlying stocks.

JQQQ expands Janus Henderson’s onchain investment offerings beyond US Treasurys and structured credit into equity-index exposure. The asset manager’s institutional onchain strategies now exceed $1 billion in total value following the launch.

The fund targets eligible professional investors outside the US. Stellar, the blockchain hosting JQQQ, ranks fourth among blockchains by distributed real-world asset value at approximately $3.8 billion.

Market Context and Nasdaq Licensing

Nasdaq expanded licensing of the Nasdaq-100 Index to additional asset managers in April 2026, creating space for new tokenized products. Invesco operates the QQQ Trust exchange-traded fund, which tracks the same index and carries a market cap of $499 billion, establishing the scale of traditional equity-index products in the market.

Broader Tokenization Infrastructure

The launch arrives amid expanding tokenization infrastructure on Stellar. The Depository Trust and Clearing Corporation (DTCC) announced a connection of its tokenization service to Stellar in May 2026. DTCC-tokenized assets are expected to become available in the first half of 2027, potentially including US Treasurys, major index ETFs, and Russell 1000 stocks.

Tradable announced plans in July 2026 to bring private credit assets to Stellar, with $500 million expected at launch and $1 billion in total planned assets. Other tokenized asset issuers including Franklin Templeton, Ondo, and Spiko have previously entered the space, alongside tokenization platforms like Tradable.

Token Performance

XLM, Stellar’s native token, has declined 16 percent year to date and traded at $0.17 on Tuesday, according to market data.