S&P Dow Jones Indices in collaboration with crypto index and data firm Kaiko is tokenizing the iBoxx U.S. Treasuries Index on a blockchain. If you’re wondering about the asset manager, there isn’t one.
The purpose is not for investors to put money into an index fund directly, but to provide an onchain conduit between the index provider and asset managers that use the index. An asset manager can consume data about the index such as asset weightings and index pricing. But index providers want to track who is using this data, so the index is being provided on the privacy preserving Canton Network blockchain. If the data isn’t permissioned then crypto funds could potentially clone it without paying for it.
The iBoxx family is one of the most widely referenced fixed income benchmarks globally, underpinning bond ETFs and institutional products. Demand for onchain access is being driven by rapid growth in tokenized Treasury products from the likes of BlackRock, Franklin Templeton and Ondo combined with a drive towards tokenized collateral.
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