On Thursday, September 25, 2025, Centrifuge, in collaboration with Janus Henderson and S&P Dow Jones Indices (S&P DJI), launched the first licensed tokenized S&P 500 index fund, named SPXA. This milestone event marks a significant advancement in the tokenization of real-world assets (RWAs) within the cryptocurrency ecosystem.
The SPXA fund is deployed on Coinbase's Base layer-2 network, enabling 24/7 trading with full transparency of holdings. It provides exposure to the S&P 500 index for decentralized autonomous organizations (DAOs), on-chain funds, and DeFi platforms, offering programmability and composability. Janus Henderson, a global asset manager with $457 billion in assets under management, serves as the sub-investment manager, while Centrifuge's Anemoy oversees fund operations.
Bhaji Illuminati, CEO of Centrifuge, emphasized, "Indices are the best way to bring stocks on-chain: they're simple, collateral-ready, and unlock liquidity in ways individual securities can't." Nick Cherney, Head of Innovation at Janus Henderson, noted this launch aligns with their blockchain strategy to reach new investors. Cameron Drinkwater, Chief Product Officer at S&P DJI, highlighted the collaboration's focus on liquidity, transparency, and interoperability.
Key partners include FalconX as an anchor investor and Wormhole for cross-chain expansion, signaling plans to scale across blockchain networks. Centrifuge, a pioneer in RWA tokenization since 2017, expands from private credit into equities with SPXA, underscoring the growing trend of integrating traditional finance with blockchain technology.