Rebank: Fintech Analysis How ETFs Inform the Next Phase of Tokenized Finance with Janus Henderson
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Jan 6, 2026 Nick Cherney, Head of Innovation at Janus Henderson Investors, shares over 20 years of experience in ETFs and asset management. He explores the parallels between early ETF culture and today’s tokenization trends, emphasizing the importance of delivering immediate value in blockchain adoption. Nick outlines three approaches to tokenization, discusses the efficiency of using blockchain in traditional finance, and highlights how it can empower unbanked populations. He also reflects on the potential for tokenization to evolve similarly to ETFs amid varying global regulations.
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From Early ETF Startup To Tokenization Interest
- Nick Cherney recounts starting in ETFs at iShares and watching the category grow over 20 years.
- He draws parallels between early ETF startup culture and today’s blockchain interest among the same players.
Pick Client Or Product To Innovate
- Target either an underserved client segment or a differentiated product to innovate successfully.
- Focus on where clients need solutions today rather than banking solely on a distant blockchain future.
Network Effects Make On‑Chain Shift Slow
- Moving the entire financial system on chain is inevitable but slow because benefits need network effects.
- Building today requires narrow wins that deliver real value within months to a year.