New York Life Investment Management (NYLIM), managing $807 billion in assets, has launched its first tokenized fund, the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (ticker: HYB), in partnership with blockchain platform Centrifuge. The fund maintains NYLIM's existing high-yield investment process and risk management, but allows eligible non-U.S. investors to access it on-chain via tokens, with subscriptions and redemptions settled in USDC stablecoin. This reflects a trend of Wall Street firms adopting tokenization to modernize operations and tap into DeFi markets, though regulatory caution limits the fund's availability outside the U.S. Centrifuge, which also provides tokenization infrastructure for Apollo Global Management and Janus Henderson, frames this as a step toward migrating institutional funds onto transparent and composable digital rails. The initiative highlights growing investor demand for transparency, efficiency, and broader market participation, as blockchain infrastructure complements traditional platforms.

Key facts

• NYLIM launches its first tokenized fund, HYB, on Centrifuge
• Fund keeps existing investment process, settles in USDC
• Available only to non-U.S. eligible investors due to regulatory caution
• Reflects Wall Street trend of tokenization for modernization
• Centrifuge also works with Apollo and Janus Henderson