- JPMorgan launches Ethereum-based tokenized money-market fund for qualified investors.
- New JPMorgan fund offers higher yields with blockchain technology integration.
- MONY fund opens access to blockchain-backed investment opportunities for wealthier clients.
JPMorgan Chase is further embracing blockchain technology with the introduction of a tokenized money-market fund. According to the Wall Street Journal, the fund, named My OnChain Net Yield Fund (MONY), is being launched by the bank’s $4 trillion asset-management division. Initially funded with $100 million in JPMorgan capital, MONY will soon open to qualified investors, requiring a minimum investment of $1 million.
This development reflects the bank’s expanding involvement in blockchain, despite CEO Jamie Dimon’s past skepticism toward cryptocurrencies.
Operating on the Ethereum blockchain, MONY is powered by JPMorgan’s Kinexys Digital Assets tokenization platform. The fund mirrors the structure of traditional money-market funds by investing in short-term debt securities. It is designed to provide yields higher than typical bank deposits, with daily interest payments and dividend accruals.
Investors can subscribe or redeem using either cash or Circle’s USDC stablecoin. Access to the fund is limited to high-net-worth individuals with at least $5 million in investments and institutions with a $25 million minimum.
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JPMorgan’s Blockchain Push Amid Evolving Regulations
JPMorgan’s entry into the tokenized money-market fund space highlights a growing interest among major financial institutions in blockchain technology. With U.S. policymakers refining the regulatory framework for digital assets, traditional financial firms are accelerating their adoption of tokenization. The passage of the GENIUS Act and the Clarity Act has paved the way for the further integration of blockchain into traditional finance.
Tokenized money-market funds like MONY are particularly appealing to crypto-native investors, offering the ability to keep assets on-chain while earning yields. JPMorgan’s move places it alongside other major financial players exploring blockchain-backed funds. BlackRock, for example, manages the largest tokenized money-market fund, with more than $1.8 billion in assets.
Despite Jamie Dimon’s earlier dismissals of cryptocurrencies, JPMorgan’s increasing engagement with blockchain technologies signals a shift in strategy. The bank recently facilitated a commercial paper offering on the Solana blockchain for Galaxy Digital. This further indicates JPMorgan’s evolving approach to integrating blockchain into institutional capital markets.
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