Janus Henderson's JQQQ puts the Nasdaq-100 on Stellar

Janus Henderson and Centrifuge have put a licensed Nasdaq-100 fund on a public blockchain. The fund is called JQQQ, and it lives only on Stellar. This article explains what was announced and how it relates to what our counts show on Stellar.

What did Janus Henderson and Centrifuge launch?

Janus Henderson and Centrifuge launched JQQQ on Tuesday, October 27, and describe it as the first blockchain-native, issuer-sponsored fund tracking the Nasdaq-100 Index. The fund uses Centrifuge's tokenization infrastructure and seeks to track the Nasdaq-100 under a licensing agreement with the exchange.

The license does not make Nasdaq the fund's issuer, and it does not mean the exchange endorses, sells or promotes JQQQ.

Janus Henderson also gave a size for its wider on-chain platform. It says the platform now encompasses more than $1 billion in strategies. That total applies to the broader platform, not to JQQQ.

Who can buy JQQQ?

JQQQ is closed to U.S. persons. Unchained reports that the fund lives only on Stellar and is open just to eligible buyers. The release did not list a minimum purchase, a custodian, or a date when the fund begins taking subscriptions.

How is JQQQ built?

JQQQ is a segregated portfolio of Anemoy Capital SPC Limited, a British Virgin Islands company. Anemoy Asset Management Limited is the investment manager, and Janus Henderson Investors US LLC is the sub-investment manager. Holders own fund shares, not the underlying stocks.

Native issuance is the point of the design. The partners say on-chain issuance could let fund shares plug into other on-chain applications and serve as collateral. Any such use depends on independent third parties, and Janus Henderson does not offer, facilitate or endorse it.

What does Stellar hold in our counts?

Our pages track tokenized U.S. Treasury funds, cash-backed dollar stablecoins and tokenized gold. An equity-index fund sits outside all three, so JQQQ is not in any of our counts.

Stellar still matters in each of them. In our tokenized Treasury count, Stellar holds $1.07 billion, or 8.5% of the $12.61 billion total, as of October 28, 2026. It ranks fourth by blockchain, behind BNB Chain, Ethereum and Solana. See also our fund-by-fund count and the BNB Chain story.

Six of the 17 funds we count have balances on Stellar. This table shows each one, in our count as of October 28, 2026.

Stellar also hosts $342.6 million of USDC in our stablecoin count as of October 28, 2026. In our gold count, it holds $4.3 million of Matrixdock's XAUm on the same date.

Where does Janus Henderson already show up on-chain?

The Janus Henderson Anemoy Treasury Fund (JTRSY) is the firm's entry in our Treasury count. It holds $253.0 million on-chain, 2.0% of the total, ranking 11th of 17 funds as of October 28, 2026. Its issuer is listed as Anemoy and Janus Henderson, on Centrifuge.

JTRSY is on 9 blockchains. Ethereum holds $232.4 million of it. Stellar holds $5.1 million. So the Janus Henderson and Centrifuge pairing already exists in our Treasury data, and it mostly sits on Ethereum.

JQQQ is a different product and a different chain choice. It is one fund, native to one blockchain.

What to watch

• Whether JQQQ opens for subscriptions. Unchained reports no date was given.
• Whether the fund publishes the on-chain addresses we would need to read it. We count only addresses the issuer publishes or confirms in writing. See how we count.
• Whether JTRSY's Stellar balance moves from $5.1 million. Counts update every 6 hours.
• Whether any third party builds collateral or lending uses for JQQQ shares.