NYLIM launches first tokenized high-yield bond fund

One of the nation's largest asset managers has launched its first tokenized fund, marking a significant step in the institutional adoption of blockchain technology for traditional finance. New York Life Investment Management, which oversees approximately $807 billion in assets, announced a partnership with tokenization platform Centrifuge on Tuesday, June 30, 2026, to offer a high-yield corporate bond strategy on-chain.

The new fund, named the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio and trading under the ticker HYB, is one of the first vehicles to bring a high-yield bond strategy onto public blockchain infrastructure. The fund's underlying investment process, portfolio, and risk management remain unchanged and under NYLIM's control. However, eligible investors can now access the strategy through tokens issued on Centrifuge's platform, with all subscriptions and redemptions settled using the USDC stablecoin.

Thomas Sy, NYLIM's head of multi-asset solutions, stated that tokenization reflects growing investor demand for transparency, efficiency, and broader market participation. He described blockchain infrastructure as a complement to the firm's existing...