JPMorgan Chase has taken a historic step by launching its first tokenized money-market fund on the Ethereum network, initially investing $100 million of its own capital to ensure the vehicle’s liquidity. John Donohue, head of global liquidity at J.P. Morgan Asset Management, confirmed that this initiative responds to massive interest from clients around tokenization, seeking to lead financial innovation with products that emulate traditional options.
The new investment vehicle, officially named “My OnChain Net Yield Fund” or MONY, has been built on the bank’s in-house tokenization platform, known as Kinexys Digital Assets. This exclusive product will be available to external investors starting Tuesday, specifically targeting qualified investors with at least $5 million in assets for individuals and $25 million for institutions. Likewise, the entity has set a minimum investment size of $1 million, with operations managed through the bank’s Morgan Money digital portal.
Is Wall Street Accelerating the Adoption of Real Assets on the Blockchain?
This strategic launch comes at a moment of significant momentum following the passage of the GENIUS Act earlier this year in the United States. Such legislation established a clear regulatory framework for dollar-backed stablecoins, which has helped to remove uncertainty around onchain settlement and digital representations of assets. Therefore, Wall Street firms are accelerating their efforts to tokenize everything from bonds to equities, viewing this technology as a way to improve operational efficiency and reduce settlement times.
One of the most revolutionary features of the MONY fund is its integration with native crypto ecosystem payment rails, allowing flexibility in transactions. Investors can make subscriptions and redemptions using cash or USDC, the dollar-pegged stablecoin issued by Circle Internet Group. Thus, when investing in the tokenized money-market fund, users receive digital tokens representing their fund shares, which are held in their crypto wallets, accruing dividends daily designed to track prevailing market yields.
JPMorgan consolidates its digital strategy by integrating wholesale payment infrastructure and tokenized deposits, marking a shift toward deep banking modernization. While access is currently limited to institutions and high-net-worth individuals, this move demonstrates a real integration of blockchain into core financial products. This trend is expected to continue expanding, normalizing the use of blockchain to optimize asset management and offering traditional investors a secure and regulated bridge to the digital economy of the future.
