New York Life Investment Management Brings First Tokenized Fund to Avalanche

BREAKING

The product, named HYB, is built through Centrifuge — a protocol specializing in bringing real-world assets onchain — and tokenizes NYLIM’s U.S. High Yield Corporate Bond Strategy. The fund holds an actively managed portfolio of high-yield U.S. corporate bonds, giving the onchain product direct exposure to a segment of traditional credit markets that has historically been inaccessible to blockchain-native investors.

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. Centrifuge handles the tokenization infrastructure connecting NYLIM’s off-chain portfolio to the Avalanche network.

The launch is a material addition to Avalanche’s real-world asset (RWA) ecosystem. Avalanche has increasingly positioned itself as a destination for institutional tokenization, and NYLIM’s entry — representing an $807 billion manager’s first onchain fund — adds significant credibility to that strategy. HYB introduces a category of credit exposure — actively managed, high-yield U.S. corporate bonds — that was not previously available natively on Avalanche.

No public launch date for broader investor access has been specified beyond the September 17 announcement. The fund is described as actively managed, meaning NYLIM’s investment team retains discretion over portfolio composition. Prospective investors should verify eligibility requirements directly through Centrifuge or NYLIM before attempting to participate.

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