Blockchain Infrastructure Platform Centrifuge joined forces with S&P Dow Jones (S&P DJI) indexes to introduce the S&P 500 index for the first time, in accordance with the press message made available by Cointelegraph.
Cooperation introduces Proof-Index infrastructure for toxhenized products and the debut of the first tokenized S&P 500 index fund, as announced.
Built on the National Blockchain Centrifuge platform, the Fund uses the official data of the S&P DJI index to offer programmable index tracking funds via bright contracts.
“Today is the beginning of an exciting chapter that expands 500 ™ to new cases of use and users around the world,” said Cameron Drinkwater, product director in S&P Dow Jones indexes.
Related: Aptos sees an raise in tokenization as asset managers
Licensed managers removed on the launch of Onchain funds
This initiative removes the way managers of assets licensed by S&P DJI to launch Onchain funds, which are in line with institutional standards, while using the flexibility and transparency of decentralized finances.
Web3 Native Asset Manager Anemoy Capital secured the first license for the construction of the S&P 500 index portfolio Janus Henderson S&P 500. S&P DJI Index Data and WIRPLE INSTRUCTION Index index index and infrastructure of an bright contract.
Nick Cherney, head of innovation Janus Henderson, said that their earlier tokenized funds from Centrifuge gained significant adhesion, and one strategy reached $ 1 billion of assets in management faster than any previous tokenized fund.
The S&P 500 is crucial for global markets, and over $ 1 trillion traders every day in ETF, derivatives and other products. The introduction of the index will allow investors to buy, hold, trade, employ it as a portfolio security or automation strategies.
“It’s about accepting everything we have learned in traditional markets and a re -image of the program, transparency and global availability of 24/7,” said Anil Sod from Centrifuge.
The tokenized S&P 500 fund will officially start on Tuesday at the Centrifuge RWA in Cannes, together with the Proof-Index infrastructure in Centrifuge, which aims to standardize toxic index products.
Related: “Everything is set” – tokenization has its own breakthrough moment
The tool remains crucial
Centrifuge movement about bringing onchain S&P 500 comes when industry leaders warn that tokenization itself is not enough. Kevin de Patoul, Keyrock, told CointeLgraph that tokenization “needs actual utility” to develop.
“If there is something that I can do with a resource in a tokenized form that I could not do before, it is only friction and costs,” he said.
De Patoul added that liquidity is also of key importance for tokenized markets, noticing that consistent market creation transforms tokenized assets into useful financial tools.
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