Janus Henderson backs Ethena’s ENA, targets 2026 USDe and ENA funds
The $480 billion asset manager plans to use staked USDe for cash management, add tokenized CLO exposure to USDe reserves, and work with Ethena on regulated investment vehicles.
Janus Henderson has taken a position in Ethena’s governance token ENA through its ANTIK blockchain venture and plans to use staked USDe for cash management under a strategic partnership aimed at widening institutional access to tokenized financial infrastructure. The $480 billion asset manager is also exploring USDe distribution and said it will work with Ethena on regulated investment vehicles for USDe and ENA, potentially including ETFs and ETPs, with launches expected in the second half of 2026. As part of the tie-up, Ethena will add Janus Henderson’s tokenized JAAA strategy to USDe’s reserve portfolio, bringing in exposure to AAA-rated collateralized loan obligations, or bundled corporate debt securities. The move extends Janus Henderson’s push into tokenized real-world assets, following its September 2024 takeover of management for the $11 million Anemoy Liquid Treasury Fund and its role in Grove’s Basin infrastructure, which launched last month with up to $1 billion in daily stablecoin liquidity capacity. ENA was trading near $0.08, down about 6.8% over the past 24 hours.
- staked USDe: USDe locked in a mechanism designed to generate yield.
- governance token: A token that can be used to vote on decisions affecting a protocol.
- collateralized loan obligations: Securities created from pools of corporate loans, often split by risk level.