TLDR
- SPXA becomes first officially licensed tokenized S&P 500 index fund on blockchain
- Base network hosts 24/7 trading with transparent on-chain holdings
- Janus Henderson manages $500B assets, partners with Centrifuge for tokenization
- FalconX provides anchor investment, Wormhole enables cross-chain expansion
- Real-world asset tokenization trend accelerates with traditional finance integration
Centrifuge launched SPXA, the first S&P Dow Jones Indices licensed tokenized fund on blockchain. The Janus Henderson Anemoy S&P 500 Fund went live Thursday on Coinbase’s Base network.
This tokenized S&P 500 fund allows round-the-clock trading of America’s premier equity benchmark. Traditional S&P 500 trading is limited to market hours, but SPXA removes these restrictions through blockchain technology.
The S&P 500 index tracks 500 large-cap U.S. companies representing roughly 80% of American equity market capitalization. SPXA brings this exposure to crypto investors with transparent, verifiable holdings on-chain.
Janus Henderson, managing nearly $500 billion in assets, serves as sub-investment manager for the tokenized fund. The London-based asset management firm provides traditional finance expertise for the blockchain product.
FalconX Global acts as anchor investor, providing initial backing for SPXA’s launch. The digital asset brokerage’s participation demonstrates institutional confidence in tokenized equity products.
Centrifuge’s Anemoy Capital oversees fund operations alongside JHI Advisors. The partnership combines Centrifuge’s tokenization technology with established asset management practices.
How Tokenized S&P 500 Trading Works
SPXA uses Centrifuge’s Proof-of-Index technology to create blockchain representations of traditional securities. This system enables transparent tracking of fund holdings and performance through on-chain data.
Base network provides the infrastructure for SPXA operations as an Ethereum layer-2 solution. The Coinbase-developed blockchain offers faster transactions and lower fees compared to mainnet Ethereum.
Investors can trade SPXA tokens 24 hours daily, unlike traditional market limitations. This constant accessibility appeals to global crypto traders across different time zones.
Real-World Asset Tokenization Growth
Wormhole integration will enable SPXA expansion to other blockchain networks. The cross-chain protocol allows tokenized assets to operate across multiple ecosystems.
Traditional finance firms increasingly embrace blockchain technology for operational efficiency. Franklin Templeton and BlackRock have launched tokenized products through FOBXX and BUIDL funds respectively.
Nasdaq submitted SEC proposals for trading tokenized products on its exchange earlier this month. The plan would allow blockchain-based equities and ETFs alongside traditional securities.
Crypto exchanges including Kraken and Robinhood now offer tokenized U.S. stock trading. These platforms provide retail investors access to equities through cryptocurrency interfaces.
Centrifuge built tokenization infrastructure for private credit and fixed income since 2017. SPXA marks the company’s entry into tokenized equities after years focusing on other asset classes.
The fund provides operational gains through speedier settlements and around-the-clock trading capabilities. Blockchain technology eliminates many traditional finance intermediaries and delays.
SPXA launched September 25, 2025, with FalconX anchor investment and management from Janus Henderson and Anemoy Capital on the Base blockchain network.
