Grove Launches $250 Million RWA Products on Avalanche Blockchain

The Grove lending protocol from the Sky ecosystem (formerly known as MakerDAO) is set to launch infrastructure on the Avalanche blockchain for the issuance of tokenized assets amounting to up to $250 million.

Initially, the project will deploy two products: the Janus Henderson Anemoy AAA CLO Fund (JAAA) and the Janus Henderson Anemoy Treasury Fund (JTRSY).

Both financial instruments will be tokenized via the Centrifuge platform.

JAAA provides access to the market of secured credit obligations, while JTRSY is an actively managed on-chain fund that invests in short-term U.S. Treasury bills.

«The implementation of structured credit on the blockchain requires more than just asset access. It needs infrastructure capable of supporting institutional execution, composability, and operational scalability,» stated representatives from Grove.

According to the project team, Avalanche meets these criteria based on three key factors:

The RWA market on Avalanche is approximately $196 million, with the blockchain’s share in the segment just above 1.5%. If Grove’s plans are achieved, this figure could more than double.

Ethereum leads the RWA sector, holding nearly 55% of the market, while ZKsync accounts for 18.8%.

In terms of products, private lending tools ($15.2 billion) and tokenized U.S. Treasury bonds ($6.8 billion) are most in demand.

Including stablecoins, the segment’s market capitalization reaches $279 billion. Over the first half of 2025, this figure grew by approximately $100 billion.

It’s worth noting that CoinGecko identified RWA as one of the most lucrative narratives for 2024, with a average return of 820%, second only to AI and meme coins in profitability.