Janus Henderson, Centrifuge Launch Tokenized Nasdaq-100 Fund on Stellar

The notable detail is the distribution channel, not the index: a large asset manager is using a tokenization specialist and a public blockchain to reach non-US investors, rather than building the rails itself. That division of labor between traditional managers and onchain infrastructure providers is the pattern worth tracking as institutional tokenization matures. Whether this approach scales beyond a single flagship index product — and whether more managers follow the same partner-plus-public-chain model — is the open question.