Janus Henderson acquires ENA position and plans to launch regulated investment products built on Ethena.
Tech & Launches ·
Janus Henderson has acquired a position in ENA and entered a partnership with Ethena to develop regulated investment products tied to USDe and ENA, according to reporting from The Block. The collaboration extends to exploring tokenized collateralized loan obligations on-chain, marking a move by the asset manager toward crypto-native investment structures.
The partnership occurs as Ethena strengthens its institutional infrastructure. The protocol has integrated Anchorage Digital's Atlas platform to manage offchain collateral for its institutional lending offering, signaling a pivot toward overcollateralized lending models alongside its existing synthetic dollar product.
What remains unclear is the timeline for product launches, the specific regulatory jurisdictions targeted for these investment vehicles, and the size of Janus Henderson's ENA stake. The mechanics of how regulated products will leverage both USDe and ENA tokenomics also have not been detailed publicly.