The Nasdaq-100 had already entered the chain when Janus Henderson and Centrifuge opened their first licensed fund.

Janus Henderson, a London-based asset management firm that oversees about $130 million in assets,[32] announced the launch of JQQQ, a designer fund on the Stellar blockchain to track the Nasdaq-100 Index on Tuesday, in partnership with Centrifuge platform TokenNation. The launch comes at a time when debate is heating up over who can keep traditional securities on blockchains.[33]

A trust fund run by the issuer.

JQQQ uses an issuer-direct oversight model, with Janus Henderson as the originator and manager of Centrifuge Fund providing blockchain infrastructure and Nasdaq licensing for indexes it tracks. The fund follows the Nasdaq-100 index which includes major technology companies such as NVIDIA , Apple, and Microsoft ; both companies have stated that their funds are issued on the Stellar Blockchain (XLM 0.1853 USD).

Following last year's token-based mutual fund, we have a lot of new players coming in.

The launch of JQQQ follows a similar blockchain-based venture capital fund last year, Janus Henderson Anemoy S.&P 500 Fund (SPXA), which states that it is the first token mutual fund authorized by S&P Dow Jones Indices Janus Henderson states that the company's blockchain investment platform is now valued at over 1,000 million dollars, encompassing government bonds, structured credit and stocks.

The Wall Street movement and the token split.

The launch is another step in Wall Street's effort to bring traditional investments onto the blockchain, expanding from U.S. government bonds, money market funds and private loans into stock-market products while also highlighting a growing gap between funds that managers issue on the blockchain itself and third party tokens created without involvement of the original company.

It's an issue to watch out for.

The main issue that followed was the competition in blockchain asset models between funds managed directly by developers and third-party tokens, both of which were required to license their respective roles on a blockchain infrastructure.