The deSPXA token, representing a tokenized S&P 500 index fund, generated $103.6 million in DEX trading volume on Base over the past 90 days, ranking second among stock tokens on the network. Launched around March 30, 2026, the product represents a share in the Janus Henderson Anemoy S&P 500 Index Fund, built through Centrifuge’s deRWA framework under licensing from S&P Dow Jones Indices. With a market cap estimated between $2 million and $3.3 million, it trails Coinbase’s NVDAc token ($159.9 million) but outperforms other tokenized assets like st0x and GOOGLc. The token can be used as collateral on Morpho to borrow USDC at a 77% loan-to-value ratio.
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