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$360 billion asset manager Janus Henderson has stepped into the ring with other Wall Street giants in the amusing movement toward blockchain technology. They’re taking over the management of the $11 million Anemoy Liquid Treasury Fund, which invests in short-term US Treasury bills. This fund’s been tokenized.  What does that mean? They’re turning the fund’s shares into digital tokens on the blockchain, essentially putting this money on-chain. You’ve probably heard the names before. BlackRock, Fidelity, Franklin Templeton. These companies are already tokenizing Treasuries and money markets. Janus Henderson is now following their lead. But what’s different here is that they’re doing it through a British Virgin Islands-based fund, which caters to non-US professional investors. Nick Cherney, the head of innovation at Janus Henderson, said: “We need to be in a position for what’s next. The way I see it, huge parts of the financial system will likely move onto distributed ledger technology in the coming years.” Why blockchain? Why now? Why the shift? It all boils down to cost and efficiency. Blockchain offers a way to cut out the middlemen and make financial products available to investors faster and cheaper.  “You can cut out a lot of steps, save on fees, and make the process smoother overall,” said Cherney. “It’s a more efficient way to get financial products to investors with fewer people involved.” MJ Lytle, the CEO of Tabula Investment Management (the arm of Janus Henderson that will manage the fund), is struggling with rising costs in the investment industry.  “We’ve seen management fees fall drastically, but other costs haven’t come down nearly as fast,” he said. Blockchain might be the solution.  Lytle added that traditional structures struggle to bring costs down quickly enough, especially when so many people are involved in things like custody and administration. Custody, administration,…

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Filed under: News - @ September 13, 2024 7:24 pm