JPMorgan Chase has taken another major step into blockchain finance by launching a private, tokenized money market fund on the Ethereum network. The Wall Street giant has seeded the product with $100 million of its own capital, signaling growing confidence in on-chain financial infrastructure.
The fund is being offered through JPMorgan Asset Management and is designed for qualified investors seeking blockchain-based yield products with faster settlement and enhanced transparency.
JPMorgan Introduces MONY, Its First Tokenized Fund
According to a report from The Wall Street Journal, the new product is called the My OnChain Net Yield Fund (MONY). It represents JPMorgan Asset Management’s first tokenized money market fund and operates on the bank’s Kinexys Digital Assets platform.
MONY is available to high-net-worth individuals with at least $5 million in assets and institutions holding a minimum of $25 million, with an entry threshold set at $1 million. Investors can access the fund via JPMorgan’s Morgan Money portal, where fund shares are issued as digital tokens and delivered directly to a crypto wallet.
Subscriptions and redemptions can be completed using either traditional cash or USDC, the U.S. dollar–pegged stablecoin issued by Circle. Like conventional money market funds, MONY invests in short-term debt instruments and generates income that accrues daily.
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Regulatory Clarity Boosts Tokenization Demand
John Donohue, Head of Global Liquidity at JPMorgan Asset Management, noted that interest in tokenized financial products has surged following the passage of the Genius Act earlier this year. The legislation introduced clearer U.S. regulatory guidelines for stablecoins and tokenized dollar instruments, giving institutions greater confidence to expand on-chain offerings.
This regulatory momentum has encouraged large financial firms to explore blockchain-based cash management tools that combine traditional safety with digital efficiency.
Part of a Growing Institutional Trend
JPMorgan’s latest move reflects a broader shift across the financial industry. In July, Goldman Sachs and BNY Mellon announced plans to collaborate on tokenized money market fund shares backed by major asset managers such as BlackRock and Fidelity.
Globally, adoption is accelerating as well. Europe’s largest asset manager, Amundi, launched a tokenized money market fund on Ethereum in November and completed its first on-chain transaction shortly afterward.
Ethereum has emerged as the dominant network for tokenized real-world assets, hosting the majority of stablecoins and institutional-grade blockchain products. BlackRock’s BUIDL fund, which manages over $2 billion in assets, remains the largest tokenized fund on the network to date.
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Conclusion
JPMorgan’s launch of the MONY tokenized money market fund highlights how traditional financial institutions are increasingly embracing public blockchains. By combining the stability of money market funds with Ethereum’s on-chain efficiency, JPMorgan is responding to rising investor demand for faster settlement, transparent ownership, and digital-native yield products. As regulatory clarity improves and institutional adoption accelerates, tokenized funds are likely to become a core component of modern asset management.
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FAQs
What is JPMorgan’s MONY fund?
MONY, or My OnChain Net Yield Fund, is JPMorgan Asset Management’s first tokenized money market fund, built on the Ethereum blockchain.
How much capital did JPMorgan invest in the fund?
JPMorgan seeded the fund with $100 million of its own capital.
Who can invest in the MONY fund?
The fund is open to qualified investors, including individuals with at least $5 million in investments and institutions with $25 million, with a minimum entry of $1 million.
How do investors buy and redeem MONY tokens?
Investors can subscribe and redeem through JPMorgan’s Morgan Money portal using either cash or USDC stablecoin.
Why did JPMorgan choose Ethereum?
Ethereum is the leading blockchain for tokenized real-world assets and stablecoins, offering strong security, liquidity, and institutional adoption.
What does this launch mean for the crypto market?
It signals growing confidence among major banks in blockchain-based financial products and accelerates the adoption of tokenization in traditional finance.
