New York Life puts first tokenized fund onchain, holds just $638K
What's the deal? New York Life Investment Management (NYLIM)Dealroom has a profile for this one. Try Dealroom →, which oversees around $807 billion, has launched its first tokenized fund with blockchain firm Centrifuge. The NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, trading as HYB, puts an actively managed high-yield corporate bond strategy onchain.
What NYLIM built: HYB launched around June 30, 2026, domiciled in the British Virgin Islands and settling subscriptions and redemptions in USDC, a dollar-pegged stablecoin. NYLIM keeps its existing investment process and risk standards; Centrifuge handles distribution and settlement, not portfolio management.
The numbers: The fund carries a 7.24% yield to worst, a 0.55% expense ratio, and a $100,000 minimum investment. The underlying strategy returned 11.40% in 2023, 6.88% in 2024, and 7.28% in 2025.
Why now? Tokenized real-world assets reached an estimated $38.8 billion in 2026, but Treasuries and money-market funds still dominate. HYB is notable for bringing actively managed below-investment-grade credit onchain, rather than cash-like assets.
A two-person team took the project from research to launch in six to nine months, a sign that tokenized-fund infrastructure has matured enough that large firms no longer need large projects to start. Since launch, HYB has expanded to Solana and AvalancheDealroom has a profile for this one. Try Dealroom → and earned an "A" tokenization rating from Particula.
What could go wrong? As of November 2026, HYB held roughly $638,000 — a rounding error against NYLIM's $807 billion. Access is limited to qualified non-US investors, and US investors are excluded entirely, shutting out a large market. High-yield bonds also carry real credit risk, which is why they pay more.
The signal: Large asset managers are moving into tokenized strategies — Schroders recently announced an onchain emerging-market bond fund with Centrifuge. NYLIM's launch is an institutional credibility signal, even if investor demand has yet to follow.
Read more: cryptobriefing.com
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