JQQQ seeks to track the index under a Nasdaq licence. Anemoy is investment manager and Janus Henderson sub-manager; access is restricted to eligible investors.
Janus Henderson and Centrifuge launched JQQQ, an investment fund seeking to track the Nasdaq-100 Index, on October 27. According to their joint announcement, the fund is initially being issued exclusively on Stellar. The companies describe it as the first blockchain-native fund to offer Nasdaq-100 exposure through an issuer-sponsored investment strategy.
The Nasdaq-100 comprises 100 of the largest non-financial companies listed on Nasdaq. JQQQ provides indirect economic exposure to an underlying investment product that tracks the index. The announcement does not name that underlying product. It says holding the fund does not confer ownership of, or shareholder rights in, the index itself.
Who manages the fund?
Its full legal name is the Janus Henderson NASDAQ-100 Index Fund Segregated Portfolio. JQQQ is a segregated portfolio of Anemoy Capital SPC Limited, a British Virgin Islands company. Anemoy Asset Management Limited manages the fund, with Janus Henderson Investors US LLC serving as sub-investment manager. Anemoy, Centrifuge, Nasdaq and the Stellar Development Foundation are not affiliates of Janus Henderson or its subsidiaries.
| Institution | Role |
|---|---|
| Anemoy Asset Management Limited | Investment manager |
| Janus Henderson Investors US LLC | Sub-investment manager |
| Centrifuge | Provides infrastructure to issue and operate the fund onchain |
| Nasdaq | Licensor of the index |
Nasdaq and its affiliates license the index but do not issue, sell, promote or endorse the fund. They have not approved its legality or suitability, make no warranties and accept no liability for the product.
Who can invest in JQQQ?
The fund is available only to eligible investors in jurisdictions where it can lawfully be offered. It is not available to U.S. persons. Investors must meet those requirements even though Stellar is a public blockchain.
Janus Henderson and Centrifuge describe the fees as competitive, but their announcement does not give a numerical fee schedule, minimum investment or specific redemption timetable. JQQQ’s assets at launch are also undisclosed.
Nick Cherney, Janus Henderson’s head of innovation, says the firm’s onchain institutional strategies now exceed $1 billion. That total covers strategies in U.S. Treasuries, structured credit and public equities, rather than the amount invested in JQQQ. The firm also reports roughly half a trillion dollars in assets under management across its business.
Can investors use it as DeFi collateral?
Centrifuge’s launch announcement describes how tokenized fund shares could be used in programmable vaults, portfolios, lending services and structured products. Anil Sood, its chief strategy and growth officer, says investment assets can become “building blocks for an onchain financial system.”
Independent third parties may provide collateral or lending functionality. Investors’ access to those functions depends on applicable law, their eligibility and the platform’s terms. Janus Henderson expressly says it does not offer, facilitate or endorse those activities, which fall outside its management of the fund. The companies have not named DeFi platforms that have begun offering JQQQ lending.
Centrifuge’s October 27 X announcement and short promotional video also announce the Stellar launch. The 00:30 section of its June 19, 2026 Stellar–Centrifuge video explains the partners’ aim of bringing assets into DeFi. The older video covers deJTRSY and deJAAA; it does not explain JQQQ’s transfer or yield terms.
What risks do fund investors face?
JQQQ’s value can deviate from the index it seeks to track. Investors may face limits on where and how readily they can trade their shares. They may lose some or all of their investment if the fund liquidates, stops operating or becomes insolvent.
Failures or security breaches affecting the blockchain network, smart contracts, digital wallets or third-party platforms could delay or prevent transfers and redemptions, or cause losses. Legal, tax and regulatory treatment also remains uncertain.
