Schroders' tokenized emerging market bond fund on Solana: how much of the RWA board already sits beyond Treasuries
Figures as of Nov 5, 2026. This article is a dated snapshot and its figures are not updated. For current figures, see the live board: syrupUSDC, JAAA, PRIME, syrupUSDG.
Schroders and Centrifuge have launched a tokenized feeder into an actively managed emerging market bond fund on Solana. On the RWAWeekly board, tokenized alternatives such as private credit and CLOs already hold $3.11B, 13.2% of the $23.49B headline total.
By RWAWeekly team · Nov 5, 2026 · Board data as of Nov 5, 2026 (RWAWeekly board snapshot)
The big picture: on Nov 4, 2026, Centrifuge announced the launch of a tokenized fund giving exposure to the Schroder International Selection Fund Emerging Market Bond strategy, Schroders' first deployment on Solana. Most tokenized funds so far hold cash or short-term US government debt. This one holds sovereign and corporate bonds from emerging economies, with credit and currency risk. On our board, products outside cash and Treasuries are already a meaningful slice: the 10 products in our tokenized alternatives segment hold $3.11B, or 13.2% of the $23.49B headline real-world asset total.
How the Schroders product works
Investors do not hold the Schroders fund directly. According to Centrifuge's fund page, SISF tokens are shares in a segregated portfolio of Anemoy Capital SPC, a British Virgin Islands professional fund, which feeds into a Luxembourg UCITS share class of the Schroders fund. Token value tracks that fund's net asset value. The page lists eligibility for non-US professional investors only, subscriptions and redemptions in stablecoins, and a 100,000 USDC minimum. CoinDesk reports that Schroders oversaw $1.1 trillion in assets as of June. SISF is not yet on our board; we add products once we can read supply on-chain and a published price.
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Tokenized alternatives on our board
| Product | What it holds | Distributed value |
|---|---|---|
| syrupUSDC Maple |
Institutional loans secured by digital assets | $927.6M |
| JAAA Janus Henderson Anemoy (Centrifuge) |
AAA-rated CLO tranches | $664.6M |
| PRIME Hastra (Figure) |
US home equity lines of credit | $528.7M |
| syrupUSDG Maple |
Institutional loans secured by digital assets | $322.7M |
| syrupUSDT Maple |
Institutional loans secured by digital assets | $287.2M |
| mGLO Midas |
Short-duration asset-backed credit | $162.6M |
| mF-ONE Midas |
Private credit and digital assets | $55.1M |
| mGLOBAL Midas |
Short-duration asset-backed credit | $34.3M |
| ACRDX Anemoy (Centrifuge) |
Shares of the Apollo Diversified Credit Fund | $21.1M |
| All 10 products | $3.11B |
Source: RWAWeekly board. Board data as of Nov 5, 2026. Distributed value = on-chain token supply × issuer-published price per token. Share of the $23.49B headline total (after netting fund-of-fund overlaps). Full segment, access terms and method: tokenized alternatives.
Two of the 10 are Centrifuge-issued Anemoy feeders, the same structure Schroders is using: JAAA ($664.6M) and ACRDX ($21.1M). Add the Centrifuge-issued Janus Henderson Anemoy Treasury Fund, JTRSY ($109.0M), and Centrifuge products on our board come to $794.7M. For comparison, tokenized Treasury products on the board hold $12.49B, about four times the alternatives segment. Solana carries $1.80B of board value across 19 products.
Why tokenized alternatives matter
Private credit, CLOs and emerging market debt have mostly been sold to institutions in large tickets. Tokenized share classes can lower the operational cost of issuing and transferring units and make them usable as on-chain collateral. They do not, on their own, widen who may buy: SISF, like most products in our alternatives segment, is restricted to professional or qualified investors.
What X is saying
Posts mentioning Schroders alongside tokenization or Centrifuge jumped from zero to 603 on Nov 4 (UTC), with 102 more in the first hours of Nov 5. The tone is positive and mostly informational. The most-viewed posts frame it as "a major step forward" that takes tokenized assets beyond cash and Treasuries, and as "a leap past cash & T-bills". Others flagged the fine print, noting it is non-US professional investors only, with stablecoin settlement.
What the numbers don't tell you
- Risk. Distributed value says how much is held, not how risky it is. Emerging market bonds carry credit, currency and rate risk that cash-like funds do not.
- Liquidity. Feeder funds redeem on a schedule; Centrifuge lists T+3 for SISF. We do not measure secondary-market depth.
- The whole market. Our totals cover only products we value from our own on-chain reads and an issuer price. Wider market estimates use different coverage and are not comparable.
- Launch size. We have no on-chain supply figure for SISF yet.
See also: Tokenized alternatives · Product board · All chains · What is tokenization? · Methodology · All articles
Sources: RWAWeekly board (on-chain supply via public RPC; issuer-published prices). Centrifuge blog and SISF fund page, Nov 4, 2026. CoinDesk, Nov 4, 2026. Posts on X, Nov 4 to 5, 2026.
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Figures are a snapshot and will change. Eligibility varies by jurisdiction. Many tokenized products are securities restricted to qualified investors. In the US, this generally means accredited investors / qualified purchasers, as applicable. Nothing here is an offer or solicitation to buy or sell any product. Information only. Not financial, investment, tax or legal advice.
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