Centrifuge

Illuminati

Stellar

<p>Centrifuge CEO Bhaji Illuminati (<a href="https://x.com/itsbhaji" rel="noopener noreferrer nofollow">@itsbhaji</a>) says JQQQ is more than a wrapped ETF. In a video posted by Stellar (<a href="https://x.com/StellarOrg" rel="noopener noreferrer nofollow">@StellarOrg</a>), the network behind <a href="https://x.com/search?q=%24XLM&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$XLM</a>, she said the product is "not just wrapping an ETF" and that <a href="https://x.com/centrifuge" rel="noopener noreferrer nofollow">@centrifuge</a> is creating a new fund structure. The fund is managed by Janus Henderson (<a href="https://x.com/JHIAdvisors" rel="noopener noreferrer nofollow">@JHIAdvisors</a>), which oversees about $500B in assets, and is available only on Stellar.</p>
<p>Illuminati's team is due to walk through the launch on Thursday at Meridian, Stellar's yearly conference.</p>
<h2 id="two-versions-of-who-can-access-jqqq">Two versions of who can access JQQQ</h2>
<p>The video and the published fund details differ on who can buy in.</p>
<p><strong>What Illuminati said:</strong> In the video, she said users across the Stellar ecosystem, including retail users on DEXs and institutional allocators, can get access to the Nasdaq-100 through the fund.</p>
<p><strong>What the fund details say:</strong><a href="https://www.gncrypto.news/news/janus-henderson-launches-nasdaq-100-fund-on-stellar/" rel="noopener noreferrer nofollow">GN Crypto reported</a> that JQQQ targets eligible professional investors outside the United States. <a href="https://www.dealroom.co/" rel="noopener noreferrer nofollow">Dealroom</a> and other outlets cite a $100,000 minimum, which the Wall Street Journal reported. The Defiant reports that subscriptions are not yet open, so investor access will only begin once they are.</p>
<p>The two accounts are hard to reconcile as stated. It is not clear how retail DEX users would qualify under a professional-investor, $100,000-minimum structure.</p>
<h2 id="what-jqqq-offers">What JQQQ offers</h2>
<p>JQQQ tracks the Nasdaq-100 Index. According to Cointelegraph, the fund uses Centrifuge's tokenization infrastructure and tracks the index under a licensing agreement with Nasdaq. It is structured as a segregated portfolio of a British Virgin Islands investment company and gives indirect exposure to the index rather than ownership of the underlying stocks.</p>
<p>For Janus Henderson, the launch extends its onchain business beyond US Treasurys and structured credit into equity-index exposure. The manager said its institutional onchain strategies now exceed $1 billion.</p>
<h2 id="stellar-s-tokenization-push">Stellar's tokenization push</h2>
<p>JQQQ lands on a network that already hosts a sizeable tokenized asset base. Stellar holds $3.76B in tokenized real-world assets and is up 11% over the past 30 days, per rwa.xyz.</p>
<p>Institutional plans are also in the pipeline. DTCC and the Stellar Development Foundation announced on May 27 that they plan to enable tokenization of DTC-custodied assets on Stellar. <a href="https://www.prnewswire.com/news-releases/dtcs-tokenization-service-to-connect-with-stellar-public-blockchain-as-dtc-advances-its-multi-chain-strategy-302780557.html" rel="noopener noreferrer nofollow">According to DTCC's press release</a>, the two expect DTC-tokenized assets to be available on the Stellar network in the first half of 2027. DTCC has said early candidates under consideration include Russell 1000 constituents, ETFs tracking major indices and US Treasurys.</p>
<h2 id="sources">Sources</h2>
<p><a href="https://cointelegraph.com/news/janus-henderson-centrifuge-launch-tokenized-nasdaq-100-fund-on-stellar" rel="noopener noreferrer nofollow">Cointelegraph: Janus Henderson, Centrifuge launch tokenized Nasdaq-100 fund on Stellar</a></p>
<p><a href="https://thedefiant.io/converge/defi/janus-henderson-announces-tokenized-nasdaq-100-fund-on-stellar" rel="noopener noreferrer nofollow">The Defiant: Janus Henderson Announces Tokenized Nasdaq-100 Fund on Stellar</a></p>
<p><a href="https://www.prnewswire.com/news-releases/dtcs-tokenization-service-to-connect-with-stellar-public-blockchain-as-dtc-advances-its-multi-chain-strategy-302780557.html" rel="noopener noreferrer nofollow">DTCC press release: DTC's tokenization service to connect with Stellar</a></p>
<p><a href="https://app.rwa.xyz/" rel="noopener noreferrer nofollow">RWA.xyz: Tokenized real-world asset analytics</a></p>

Only on Stellar: Centrifuge’s CEO explains what makes JQQQ different

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