JTRSY vs USYC
Janus Henderson Anemoy Treasury Fund and USYC are both treasuries tokens, so this page compares them. JTRSY is issued by Anemoy on Ethereum, Base, Arbitrum. USYC is issued by Circle International Bermuda Limited, token administrator for Hashnote International Short Duration Yield Fund Ltd. on Arc, BNB, Canton, Ethereum, NEAR, Solana. The cited pages differ on issuer, fees, redemption, minimum size, chains. A dash is a field the issuer page does not state. The reverse URL redirects to this alphabetical pair.
All RWA tokens · Janus Henderson Anemoy Treasury Fund · USYC
| Field | Janus Henderson Anemoy Treasury Fund | USYC |
|---|---|---|
| Ticker | JTRSY | USYC |
| Asset class | Treasuries | Treasuries |
| Issuer | Anemoy | Circle International Bermuda Limited, token administrator for Hashnote International Short Duration Yield Fund Ltd. |
| Issuer jurisdiction | British Virgin Islands | Cayman Islands (fund); Bermuda (token administrator) |
| Regulator | Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity. | Bermuda Monetary Authority licenses the token administrator. The fund is a Cayman Islands registered mutual fund. Circle's developer overview says that fund is licensed by the Cayman Islands Monetary Authority (CIMA). Shares and USYC are offered only to non-U.S. persons under the Securities Act of 1933. |
| Token type | On-chain fund share for U.S. Treasury bills with a maximum maturity of six months. Issuance follows the proposed ERC-7540 standard, described as an extension of ERC-4626 that issues ERC-20 tokens. Holdings can be viewed through Centrifuge. | Each token is a digital representation of a share of Hashnote International Short Duration Yield Fund Ltd. Circle's developer overview says the fund invests primarily in reverse repurchase agreements backed by U.S. government securities. Yield accrues through a rising token price. |
| Custodian | — | — |
| Auditor | — | — |
| Chains | Ethereum, Base, Arbitrum | Arc, BNB, Canton, Ethereum, NEAR, Solana |
| Fees | — | Subscription fee 0.04% and redemption fee 0.03%, each waived on combined daily volume of $1 million or less. Performance fee 10% of yield. After-hours subscription pricing varies. Circle's page says all transactions are in USDC. |
| Redemption | Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage. | Eligible investors subscribe and redeem in USDC. Below the instant-redemption capacity, redemptions settle in one block. Above that capacity they settle T+0 or T+1. The developer overview describes atomic T+0 settlement in USDC. |
| Minimum unit | — | Investment minimum $100,000. |
| Launched | — | 2023-01-05 |
| Website | https://www.anemoy.io/funds/jtrsy | https://www.circle.com/usyc |
| CoinGecko id | — | — |
| Market cap | — | — |
| Supply | — | — |
How to buy JTRSY
The cited catalog does not include an official how-to-buy path for Janus Henderson Anemoy Treasury Fund.
Who can and cannot hold JTRSY
Janus Henderson Anemoy Treasury Fund is issued from British Virgin Islands.
Regulator, as published: Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity.
The cited catalog does not include a restricted-holder statement for Janus Henderson Anemoy Treasury Fund.
What redemption actually means in practice for JTRSY
Redemption, as published: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage.
The issuer does not publish a minimum size for Janus Henderson Anemoy Treasury Fund.
The issuer does not publish an issuer fee for Janus Henderson Anemoy Treasury Fund.
Eligibility and redemption read from the issuer on 31 Oct 2026
How to buy USYC
A non-U.S. person requests access on https://www.circle.com/usyc. The page separates that request from an already approved investor, who can then access USYC. Subscriptions and redemptions use USDC. The page does not name a secondary-market exchange.
The page is written for an investor who still needs approval and for one who is already approved. It does not print the document checklist. The developer overview says eligibility restrictions apply and points to Circle's investor onboarding help or customer-support@circle.com.
Who can and cannot hold USYC
USYC is issued from Cayman Islands (fund); Bermuda (token administrator).
Regulator, as published: Bermuda Monetary Authority licenses the token administrator. The fund is a Cayman Islands registered mutual fund. Circle's developer overview says that fund is licensed by the Cayman Islands Monetary Authority (CIMA). Shares and USYC are offered only to non-U.S. persons under the Securities Act of 1933.
The USYC page says shares of the fund and USYC are available only to non-U.S. persons under the Securities Act of 1933. For an individual, the page treats a U.S. citizen, a U.S. resident, or a person who meets the IRS substantial presence test as a U.S. person. For an institution it points to Regulation S, 17 CFR § 230.902(k). It says additional eligibility restrictions may apply and does not list them. Those details go to customer-support@circle.com.
What redemption actually means in practice for USYC
The issuer does not publish a redemption minimum for USYC.
Redemptions are paid in USDC. The page says all transactions are in USDC. It does not name a bank or a city.
The USYC page lists a subscription fee of 0.04% and a redemption fee of 0.03%, each at 0% on combined daily volume of $1 million or less, with the standard rate above that threshold. The performance fee is 10% of yield. After-hours subscription pricing varies and is described as based on a projected next price. The page says unlimited instant redemptions carry a fee and does not print the rate.
A redemption below the instant-redemption capacity settles in one block, and the block time depends on the chain. Above that capacity, settlement is T+0 or T+1. The page does not print the capacity. A footnote says unlimited instant redemptions are available for a fee and does not print that fee.
The issuer does not publish a storage fee for USYC.
Direct purchase minimum: The USYC page lists an investment minimum of $100,000.
Reserve report: Circle's developer overview says the token price and fund holdings are published through an on-chain oracle. Neither that overview nor the USYC page names an auditor or an assurance standard for a reserve report.
Janus Henderson Anemoy Treasury Fund sources
Questions
Yes. Both are treasuries. RWA Leads does not publish a comparison across asset classes.
Janus Henderson Anemoy Treasury Fund: Anemoy. USYC: Circle International Bermuda Limited, token administrator for Hashnote International Short Duration Yield Fund Ltd..
JTRSY fees: not stated. USYC fees: Subscription fee 0.04% and redemption fee 0.03%, each waived on combined daily volume of $1 million or less. Performance fee 10% of yield. After-hours subscription pricing varies. Circle's page says all transactions are in USDC.. JTRSY redemption: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage.. USYC redemption: Eligible investors subscribe and redeem in USDC. Below the instant-redemption capacity, redemptions settle in one block. Above that capacity they settle T+0 or T+1. The developer overview describes atomic T+0 settlement in USDC..
The slugs in alphabetical order: /compare/jtrsy-vs-usyc. The other order is a permanent redirect.
Janus Henderson Anemoy Treasury Fund: The cited catalog does not include an official how-to-buy path for Janus Henderson Anemoy Treasury Fund. USYC: A non-U.S. person requests access on https://www.circle.com/usyc. The page separates that request from an already approved investor, who can then access USYC. Subscriptions and redemptions use USDC. The page does not name a secondary-market exchange. The page is written for an investor who still needs approval and for one who is already approved. It does not print the document checklist. The developer overview says eligibility restrictions apply and points to Circle's investor onboarding help or customer-support@circle.com.
Janus Henderson Anemoy Treasury Fund is issued from British Virgin Islands. Regulator, as published: Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity. The cited catalog does not include a restricted-holder statement for Janus Henderson Anemoy Treasury Fund. USYC is issued from Cayman Islands (fund); Bermuda (token administrator). Regulator, as published: Bermuda Monetary Authority licenses the token administrator. The fund is a Cayman Islands registered mutual fund. Circle's developer overview says that fund is licensed by the Cayman Islands Monetary Authority (CIMA). Shares and USYC are offered only to non-U.S. persons under the Securities Act of 1933. The USYC page says shares of the fund and USYC are available only to non-U.S. persons under the Securities Act of 1933. For an individual, the page treats a U.S. citizen, a U.S. resident, or a person who meets the IRS substantial presence test as a U.S. person. For an institution it points to Regulation S, 17 CFR § 230.902(k). It says additional eligibility restrictions may apply and does not list them. Those details go to customer-support@circle.com.
Janus Henderson Anemoy Treasury Fund: Redemption, as published: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage. The issuer does not publish a minimum size for Janus Henderson Anemoy Treasury Fund. The issuer does not publish an issuer fee for Janus Henderson Anemoy Treasury Fund. USYC: The issuer does not publish a redemption minimum for USYC. Redemptions are paid in USDC. The page says all transactions are in USDC. It does not name a bank or a city. The USYC page lists a subscription fee of 0.04% and a redemption fee of 0.03%, each at 0% on combined daily volume of $1 million or less, with the standard rate above that threshold. The performance fee is 10% of yield. After-hours subscription pricing varies and is described as based on a projected next price. The page says unlimited instant redemptions carry a fee and does not print the rate. A redemption below the instant-redemption capacity settles in one block, and the block time depends on the chain. Above that capacity, settlement is T+0 or T+1. The page does not print the capacity. A footnote says unlimited instant redemptions are available for a fee and does not print that fee. The issuer does not publish a storage fee for USYC. Direct purchase minimum: The USYC page lists an investment minimum of $100,000. Reserve report: Circle's developer overview says the token price and fund holdings are published through an on-chain oracle. Neither that overview nor the USYC page names an auditor or an assurance standard for a reserve report.