JPMorgan Asset Management Launches MONY Tokenized Money Market Fund on Ethereum With $100 Million

JPMorgan Asset Management launched its first tokenized money market fund on Ethereum, the My OnChain Net Yield Fund (MONY), with $100 million of capital from JPMorgan itself before opening to external investors.

“JPMorgan files to launch new tokenized fund as Wall Street tokenization race heats up The global banking giant is expanding its tokenized money market lineup, following BlackRock's similar move just a few days ago”

@coindesk

The fund is built on JPMorgan’s Kinexys Digital Assets platform and is structured as a private fund, with eligibility limited to investors with at least $5 million in investments and institutions with a minimum of $25 million, plus a $1 million entry requirement.

@coindesk

Investors can subscribe and receive digital tokens representing their participation through JPMorgan’s Morgan Money portal, and subscriptions and redemptions can be made using cash or USDC, the stablecoin issued by Circle.

John Donohue, responsible global de liquidez en JPMorgan Asset Management, said client interest in tokenization has grown strongly since the approval of the Genius Act earlier this year, which created a clearer framework in the United States for stablecoins and tokenized dollars.

Multiple outlets describe MONY as operating like a traditional money market fund while shifting share representation to Ethereum: it invests in short-term debt instruments and accumulates income daily.

TradingView’s report says investors can subscribe and redeem using cash or USDC, and that JPMorgan frames the structure as keeping assets “completamente conectados a la cadena” while giving exposure to cash-management products.

Bitfinanzas

Finect adds that MONY’s shares are represented by digital tokens registered on the Ethereum public blockchain, while the underlying investments remain U.S. Treasury securities and repurchase agreements fully collateralized by those instruments.

Finect also quotes John Donohue saying, “We are excited to be pioneers with the launch of MONY,” and says the fund is structured as a private placement under U.S. Regulation 506(c) aimed exclusively at qualified investors.

While MONY is JPMorgan’s first tokenized money market fund on Ethereum, Bloomberg reported that JPMorgan Asset Management filed paperwork to launch a second tokenized money market fund, the JPMorgan OnChain Liquidity-Token Money Market Fund, trading under the ticker JLTXX.

“Summary - JPMorgan Asset Management filed paperwork to launch a second tokenized money market fund (MMF), JLTXX”

bloomingbit

Bloomingbit says JLTXX is designed to fit the GENIUS Act framework and will invest in U.S. Treasuries and repurchase agreements (repos), issuing fund shares as digital tokens on the Ethereum blockchain that can be held in digital wallets, transferred, or used as collateral.

CoinDesk reports that JPMorgan filed to launch JLTXX as a U.S. Treasury money-market fund on Ethereum, with the filing stating approved users can submit purchase, redemption and transfer requests through Ethereum and that Kinexys Digital Assets will operate the underlying blockchain infrastructure.

CoinDesk also ties the filing to Wall Street’s broader tokenization push, noting that the move comes only days after BlackRock filed paperwork for a new tokenized Treasury reserve vehicle and blockchain-based shares of an existing $7 billion money-market fund.