Centrifuge Launches Tokenized S&P 500 Index Fund on Coinbase's Base Network

Centrifuge has launched the SPXA, the first licensed S&P 500 index fund on blockchain, allowing around-the-clock trading of one of the world's most recognized equity benchmarks. Operating on Coinbase's Base network, the fund provides transparent holdings and is managed by Janus Henderson and Centrifuge's Anemoy. This launch signifies the first tokenized index fund authorized by the S&P Dow Jones Indices, giving investors direct access to the S&P 500, which represents around 80% of the U.S. equity market. FalconX has invested in the project, and Wormhole will facilitate its expansion to other blockchains. Centrifuge aims to tokenize traditional financial instruments to enhance liquidity and operational efficiencies. CEO Bhaji Illuminati emphasized the benefits of bringing indices on-chain for easier liquidity and collateral readiness. The initiative aligns with the growing trend of converting traditional financial assets to blockchain-based formats.

Source 🔗