NEW York Life Investment Management

AVAX has climbed nearly 50% in a week, reaching an eight-month high as institutional tokenization developments revive interest in Avalanche. Technical traders are watching whether a rebound from long-term wedge support can extend toward the $19-$20 area.

Thomas Sy of New York Life Investment Management says blockchain could help asset managers build customized portfolios at scale. The view comes as stablecoin adoption pushes institutions toward tokenized investment products that can provide yield.

New York Life Investment Management has launched its first tokenized fund in partnership with Centrifuge. The product puts a U.S. high-yield corporate bond strategy onchain with subscriptions and redemptions settled in USDC.