Centrifuge brings fund ownership onchain with JAAA token

Fund ownership typically requires trusting a monthly PDF and a transfer agent you've never met. Centrifuge's JAAA token offers an alternative approach by putting both shares and receipts on the blockchain. The JAAA token represents shares in the Janus Henderson Anemoy AAA CLO Fund, which is structured as a professional fund in the British Virgin Islands and managed by Janus Henderson Investors.

Through Chronicle's Proof of Asset framework, the fund's portfolio positions, prices, values, yields and data sources are published directly on the blockchain. This allows investors to verify what the fund holds rather than relying on third-party attestations. The token serves as a wrapper around a conventional legal claim, not a replacement for one.

Fund details

The fund began operating on July 25, 2025, and charges a management fee of 0.50%. It gives non-US professional investors exposure to AAA-rated collateralized loan obligation tranches, which bundle corporate loans into risk-layered structures with the AAA layer carrying the highest credit rating.

JAAA's assets under management currently range between $580 million and $680 million, down from more than $1 billion at an earlier peak. The net asset value per token stands at approximately $1.05 to $1.06, with reported yields in the low to mid 5% range.

Blockchain integration

Chronicle's framework verifies key fund data and writes it to the blockchain across multiple networks including Ethereum, Arbitrum, Solana, Base and Avalanche. The company provides attestations for both the standard JAAA token and its DeFi-friendly wrapper, deJAAA.

Approximately $47 million worth of JAAA has been supplied as collateral on Aave Horizon, making it the largest tokenized asset on that platform at that point.