JTRSYTokenized Treasury

Anemoy Janus Henderson Treasury Fund

AUM: $27M
30D change: -67.3%
Yield · 30-day net: 4.18%
NAV: 1.0842
Management fees: 0.35%
Minimum: $100K
Redemption: Daily
Launched: 21 Feb 2024

Depends onAnchorage Digital Bank Anchorage Digital Qualified Custody Chainlink Proof of Reserve & NAVLink Chainlink CCIP

Field coverage 92%Primary-source or on-chain verified 33% of tracked metrics2/2 source documents analyst-verifiedLast reconciled 13 Nov 2026

Overview

What this product is

A traditional manager acting as sub-adviser to a crypto-native fund vehicle rather than issuing under its own brand. NAV and portfolio reporting run through on-chain infrastructure, making it the most transparent product in the cohort at the cost of an offshore wrapper.

Underlying asset: US Treasury bills, actively managed across the short curve
Asset class: Tokenized Treasury
Product structure: Tokenized Fund
Legal structure: BVI Professional Fund
Issuer jurisdiction: United States
Fund domicile: British Virgin Islands
Base currency: USD
Launched: 21 Feb 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


USDY	4.25%	0.50%	$500	$1.32B
USYC2	5.20%	0.00%	$100K	$1.2B
BUIDL	4.16%	0.50%	$5M	$1.1B
USD0PP	5.42%	0.00%	$1	$500.7M
USTB2	5.00%	0.15%	$100K	$500M
USTB	4.11%	0.15%	$100K	$445M
OUSG	4.04%	0.15%	$100K	$315.9M

Issuer

Who runs it

Janus Henderson Investors

London, United Kingdom

Traditional manager acting as sub-adviser to an on-chain fund rather than issuing directly: an outsourced route into tokenization that keeps the fund vehicle offshore and crypto-native.

Portfolio

Composition

US Treasury bills88.1%
US Treasury notes9.2%
Cash2.7%

Weighted average maturity

34 days

On-chain history begins 13 Sept 2026 and covers 45 days of readings, with gaps on days the indexer could not read every chain.

AUM

$27M

Assets under management

-67.3% over 45 days held

Yield

4.18%

Yield history. 30-day net

No on-chain history recorded for this series yet.

NAV

1.0842

NAV per token

No on-chain history recorded for this series yet.

Movement

Recent daily movement

Net movement -$474.3MOver 45 daysChange -67.3%


29 Oct 2026	$230.3M	-$44M	-16.1%
28 Oct 2026	$274.3M	-$45.7M	-14.3%
27 Oct 2026	$320M	$486.2K	+0.2%
26 Oct 2026	$319.5M	$0	0.0%
25 Oct 2026	$319.5M	$0	0.0%
24 Oct 2026	$319.5M	$0	0.0%
23 Oct 2026	$319.5M	-$290.5K	-0.1%
22 Oct 2026	$319.8M	$0	0.0%
21 Oct 2026	$319.8M	-$2.9M	-0.9%
20 Oct 2026	$322.7M	$0	0.0%

Holdings

Disclosure

Underlying portfolio


US Treasury bills	Treasury bills	0–6 months	88.1%
US Treasury notes	Treasury notes	6–12 months	9.2%
Cash	Cash & equivalents	-	2.7%

Exposure

What you actually own

Economic exposure is to us treasury bills, actively managed across the short curve. Weighted average maturity is 34 days, which sets how quickly the portfolio reprices as rates move.

Treasury bills: 88.1%
Treasury notes: 9.2%
Cash & equivalents: 2.7%

Redemption

Terms

Contractual terms

Redemption frequency: Daily
Dealing cut-off: 16:00 CET, business days
Settlement: T+1 USDC; T+2 USD wire
Redemption fee: None
Secondary venues: None disclosed
Transfer restrictions: Allow-listed wallets; onboarding through the tokenization platform.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Daily · T+1 USDC; T+2 USD wire

Off-hours exit

Constrained to 16:00 CET, business days

Secondary market

No secondary venue: primary redemption is the only exit

Transferability

Allow-listed wallets only

Exit fee

No redemption fee

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued byJanus Henderson InvestorsLondon, United Kingdomderived Administered byCentrifugeBerlin, Germanyderived

Custody

Where the backing assets actually sit.

Custodied byAnchorage Digital BankSan Francisco, United Statesderived Custodied byAnchorage Digital Qualified CustodyAnchorage Digital Bankderived

Platform & data

The software and price sources the product runs on.

Price feed powered byChainlink Proof of Reserve & NAVLinkChainlink Labsderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Settles viaChainlink CCIPChainlink Labsderived Deployed onEthereumpublic l1 · 83% of supplyderived Deployed onBasepublic l2 · 17% of supplyderived Deployed onArbitrum Onepublic l2 · 0% of supplyderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1	0x8c213ee795…418c4b86	83.5%
Base	public l2	0x8c213ee795…418c4b86	16.5%
Arbitrum One	public l2	0x8c213ee795…418c4b86	0.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: Anchorage Digital Bank· San Francisco, United States
Administrator: Centrifuge· Berlin, Germany
Transfer agent: Not disclosed
Tokenization platform: Centrifuge· Berlin, Germany
Oracle / attestation: Centrifuge NAV oracle

Access

Classification

Who may hold this

RetailNot eligible

AccreditedNot eligible

ProfessionalEligible

InstitutionalEligible

Minimum investment: $100,000
Allow-list required: Yes
Transfer restrictions: Allow-listed wallets; onboarding through the tokenization platform.

Geography

Where it is available

United StatesNot available

European UnionAvailable

SingaporeAvailable

United KingdomNot available

SwitzerlandNot available

Hong Kong SARNot available

United Arab EmiratesNot available

Explicit prohibitions

−United States
−Retail investors

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: BVI Professional Fund
Product structure: Tokenized Fund
Fund domicile: British Virgin Islands
Issuer jurisdiction: United States
Transfer agent: Not disclosed

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

Fund Offering Memorandumoffering memo · 20 Jan 2026Parsed & verified↗On-chain NAV Report — Aug 2026attestation · 28 Aug 2026Parsed & verified↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

Net movement -$474.3MOver 45 daysChange -67.3%


29 Oct 2026	$230.3M	-$44M	-16.1%
28 Oct 2026	$274.3M	-$45.7M	-14.3%
27 Oct 2026	$320M	$486.2K	+0.2%
26 Oct 2026	$319.5M	$0	0.0%
25 Oct 2026	$319.5M	$0	0.0%
24 Oct 2026	$319.5M	$0	0.0%
23 Oct 2026	$319.5M	-$290.5K	-0.1%
22 Oct 2026	$319.8M	$0	0.0%
21 Oct 2026	$319.8M	-$2.9M	-0.9%
20 Oct 2026	$322.7M	$0	0.0%
19 Oct 2026	$322.7M	$0	0.0%
18 Oct 2026	$322.7M	$0	0.0%
17 Oct 2026	$322.7M	$0	0.0%
16 Oct 2026	$322.7M	-$581.3K	-0.2%
15 Oct 2026	$323.3M	$0	0.0%
14 Oct 2026	$323.3M	$0	0.0%
13 Oct 2026	$323.3M	$0	0.0%
12 Oct 2026	$323.3M	$0	0.0%
11 Oct 2026	$323.3M	$0	0.0%
10 Oct 2026	$323.3M	$0	0.0%
09 Oct 2026	$323.3M	$0	0.0%
08 Oct 2026	$323.3M	$0	0.0%
07 Oct 2026	$323.3M	$97	+0.0%
06 Oct 2026	$323.3M	$0	0.0%
05 Oct 2026	$323.3M	$0	0.0%
04 Oct 2026	$323.3M	$0	0.0%
03 Oct 2026	$323.3M	$0	0.0%
02 Oct 2026	$323.3M	$0	0.0%
01 Oct 2026	$323.3M	$0	0.0%
30 Sept 2026	$323.3M	$0	0.0%
29 Sept 2026	$323.3M	-$977K	-0.3%
28 Sept 2026	$324.3M	$0	0.0%
27 Sept 2026	$324.3M	$0	0.0%
26 Sept 2026	$324.3M	$0	0.0%
25 Sept 2026	$324.3M	$0	0.0%
24 Sept 2026	$324.3M	$0	0.0%
23 Sept 2026	$324.3M	-$24.3M	-7.0%
22 Sept 2026	$348.6M	$8.4M	+2.5%
21 Sept 2026	$340.2M	$0	0.0%
20 Sept 2026	$340.2M	$0	0.0%
18 Sept 2026	$340.2M	-$291.4M	-46.1%
17 Sept 2026	$631.6M	-$48.7M	-7.2%
15 Sept 2026	$680.3M	-$24.3M	-3.4%
14 Sept 2026	$704.6M	$0	0.0%
13 Sept 2026	$704.6M	-	-

Related intelligence

1 events reference this product

05 Nov 2026Product

Multiliquid Treasury Launches 24/7 T-Bill Yield and Instant Settlement for Corporate Cash - TradingView

Multiliquid Treasury has launched a 24/7 T-Bill yield product featuring instant settlement targeted at corporate cash management.

By combining continuous 24/7 yield generation with instant settlement architectures, this launch directly removes traditional banking-hour bottlenecks for corporate treasurers. It forces competing tokenized money market funds to accelerate their settlement rails to avoid losing corporate cash allocations to instantaneous on-chain alternatives.