Avalanche Lands $807 Billion Manager's First Tokenized Fund

New York Life Investment Management has launched its first tokenized fund on Avalanche via Centrifuge. The fund, named HYB, provides direct exposure to a segment of traditional credit markets that have historically been inaccessible to blockchain-native investors.

The product, built through Centrifuge, tokenizes NYLIM's U.S. High Yield Corporate Bond Strategy. This actively managed portfolio of high-yield U.S. corporate bonds gives onchain products direct access to the traditional credit market.

Access to HYB is restricted to eligible investors, consistent with regulatory requirements around institutional-grade credit products. Qualified participants can access the fund directly on Avalanche, receiving onchain exposure to NYLIM's actively managed high-yield bond strategy without requiring traditional financial intermediaries.