JPMorgan Launches Tokenized Money-Market Fund on Ethereum Blockchain

JPMorgan Asset Management has launched a tokenized money-market fund, My OnChain Net Yield Fund (MONY), on the Ethereum blockchain.

MONY issues shares as digital tokens on Ethereum, accessible to qualified investors via the Morgan Money platform.
The fund holds low-risk instruments like US Treasury securities and repurchase agreements backed by Treasuries.
Token shares represent direct ownership and enable on-chain settlement and recordkeeping.
JPMorgan seeded MONY with $100 million to initiate liquidity and demonstrate commitment to on-chain cash management.
Access is limited to institutional clients with assets above $25 million and accredited individuals with at least $5 million, requiring a minimum initial investment of $1 million.
The initiative reflects an industry trend to explore tokenized share classes and blockchain's potential for faster settlements and enhanced transparency.

The move aligns with efforts by major asset managers to test blockchain's capacity to improve liquidity and streamline operations for institutional investors.