Wall Street giant JPMorgan has rolled out its first tokenized money market fund using Ethereum and USDC.Wall Street giant JPMorgan has rolled out its first tokenized money market fund using Ethereum and USDC.

JPMorgan Launches $100M Tokenized Fund on Ethereum: WSJ

2025/12/15 19:51

JPMorgan Chase has rolled out a private tokenized money market fund on the Ethereum blockchain, seeding the product with $100 million of its own capital and opening it to qualified investors through its asset-management arm.

The launch shows how one of Wall Street’s largest banks is moving traditional cash products onto public blockchains as client demand for on-chain yield and faster settlement keeps growing.

JPMorgan Expands Tokenization Push with MONY Fund

According to a report by the Wall Street Journal, the new vehicle, called the My OnChain Net Yield Fund, or MONY, is JPMorgan Asset Management’s first tokenized money market fund and is supported by the bank’s Kinexys Digital Assets platform. The fund is available to individuals with at least $5 million in investments and institutions holding a minimum of $25 million, with a $1 million entry requirement.

Investors can subscribe through JPMorgan’s Morgan Money portal and receive digital tokens representing their fund shares in a crypto wallet. Subscriptions and redemptions can be made using cash or USDC, the dollar-linked stablecoin issued by Circle. Like traditional money market funds, MONY holds short-term debt instruments and accrues income daily.

John Donohue, JPMorgan Asset Management’s head of global liquidity, said that client interest around tokenization has grown sharply since the passage of the Genius Act earlier this year, which created a clearer U.S. framework for stablecoins and tokenized dollars.

How JPMorgan Fits into a Broader Industry Shift

JPMorgan’s move follows a series of similar launches by major asset managers seeking to blend blockchain rails with familiar financial products. In July, Goldman Sachs and BNY Mellon said they would work together on digital tokens tied to money market funds managed by firms including BlackRock and Fidelity.

Outside the U.S., Europe’s largest asset manager, Amundi, launched a tokenized money market fund on Ethereum in November, recording its first on-chain transaction earlier that month.

Ethereum has become the preferred network for these products, hosting the majority of tokenized real-world assets and stablecoins. BlackRock’s BUIDL fund, with more than $2 billion under management, remains the largest example.

The post JPMorgan Launches $100M Tokenized Fund on Ethereum: WSJ appeared first on CryptoPotato.

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