New York Life launches first tokenized high-yield bond fund on blockchain

Key Facts

In a move reflecting the expansion of tokenization from Treasury bills to credit instruments, New York Life — an $807 billion asset manager — announced a partnership with Centrifuge to launch its first tokenized high-yield bond fund onchain. The fund gives eligible investors access to NYLIM's established institutional high-yield bond strategy, according to reports from CoinDesk and The Block.

The launch comes amid accelerating growth in real-world asset (RWA) tokenization, as Wall Street firms like BlackRock and Franklin Templeton have previously launched tokenized money-market funds. New York Life is the first major insurer to enter this space with a credit bond fund, signaling growing institutional appetite for blockchain adoption to broaden investor bases and improve operational efficiency.

As of the close on June 30, 2026, tokenization markets remain nascent, but this launch could spur more securities issuers to experiment with onchain structures. Traders are watching for the impact on traditional bond market liquidity, as well as any regulatory developments from the SEC that could ease or hinder such products.