announced<\/a> in a press release on June 25. At launch, the Sky ecosystem allocated $1 billion to Grove for investments in the Janus Henderson Anemoy AAA CLO Strategy, a fully tokenized fund created in collaboration with Centrifuge.<\/p>\nRun by the same team that manages Janus Henderson\u2019s $21 billion AAA CLO ETF, the strategy provides DeFi with access to a traditionally off-chain asset class known for yield stability and capital preservation. This marks the first time a collateralized loan obligation investment strategy has been deployed fully onchain.<\/p>\n
Grove is designed to serve as a capital routing layer between onchain protocols and traditional asset managers. Through Grove\u2019s infrastructure, crypto-native projects can deploy idle reserves into diversified, regulated vehicles, without leaving the blockchain environment. The non-custodial system allows for flexible capital allocation.\u00a0<\/p>\n
A founding group of TradFi and DeFi veterans from Citigroup, Deloitte, BlockTower Capital, and Hildene Capital worked with Grove Labs, a division of Steakhouse Financial, to incubate the protocol.<\/p>\n
<\/p>\n
Grove is supported by the Sky ecosystem as part of its larger Endgame strategy, which aims to reorganize its protocol into independent, modular units called \u201cStars\u201d over a period of years. With Grove joining Spark as a new Star, Sky is stepping up its efforts to incorporate tokenized real-world assets into DeFi.<\/p>\n
\u201cDemand for high-quality, yield-generating assets onchain is growing,\u201d said Sam Paderewski, Grove Labs co-founder. \u201cThe launch of Grove, backed by a $1 billion allocation from Sky, shows how protocols can now access liquid, institutional-grade credit without compromising decentralization or flexibility.\u201d<\/p>\n
The launch also reflects the growing appetite for tokenized fixed-income products in DeFi. The tokenized U.S. Treasury market has grown from $500 million to more than $7.3 billion since 2023. By providing a more diversified, actively managed product onchain, the JAAA fund continues this trend.\u00a0<\/p>\n
Janus Henderson, which previously partnered with Centrifuge to launch the JTRSY tokenized Treasury fund, said the success of that initiative helped pave the way for this latest CLO strategy.\u00a0<\/p>\n
\u201cWith Grove\u2019s infrastructure, we\u2019re expanding global access to structured credit,\u201d said Nick Cherney, head of innovation at Janus Henderson. \u201cTokenizing this strategy is a major step toward integrating traditional financial products into DeFi.\u201d<\/p>\n
Sky co-founder Rune Christensen noted that the protocol\u2019s long-term goal is to build an open, decentralized capital network. Grove\u2019s launch, he said, advances that mission by adding a new layer of asset diversity to the system\u2019s real-world asset portfolio.<\/p>\n
As part of its roadmap, Grove will continue to facilitate allocations between asset managers and crypto-native protocols, positioning itself as a key liquidity engine for DeFi.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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