In Brief
- JPMorgan unveils MONY fund on Ethereum, seeded with $100M from internal capital.
- Fund targets qualified investors with $1M minimum, using cash or USDC for entry.
- MONY offers daily yield and blockchain-based transparency through Kinexys platform.
JPMorgan Chase has introduced its first tokenized money-market fund, marking a significant step in blockchain adoption. The fund, named My OnChain Net Yield Fund (MONY), is built on the Ethereum blockchain and seeded with $100 million by JPMorgan itself.
It is supported by the bank’s tokenization platform, Kinexys Digital Assets, and will be accessible through the Morgan Money platform. The fund targets qualified investors, requiring individuals to hold $5 million in assets and institutions $25 million, with a $1 million minimum investment.
The MONY fund allows users to subscribe using either cash or the USDC stablecoin issued by Circle Internet Group. In return, they will receive digital tokens in their crypto wallets, representing shares in the fund.
Like traditional money-market funds, MONY invests in short-term debt instruments considered relatively safe. However, it differs by offering yield directly on-chain, giving investors interest while keeping assets within blockchain ecosystems.
Fund Offers Blockchain-Based Yield With Regulatory Support
The move follows the passage of the Genius Act, which established regulatory clarity for stablecoins and accelerated tokenization across traditional assets. JPMorgan aims to provide more digital-native options, echoing similar efforts by firms like BlackRock and Goldman Sachs.
JPMorgan believes the fund aligns with growing demand for tokenized financial products among institutions. John Donohue, global liquidity head at JPMorgan Asset Management, said the bank expects to lead in this area as client interest grows.
Tokenized funds can reduce settlement times and operational costs, while also providing transparency and real-time tracking through blockchain. MONY’s structure also allows it to serve as collateral on digital asset platforms.
The asset management industry has already seen strong growth in tokenized funds, with stablecoin market caps exceeding $300 billion. Money-market funds, too, have surged to $7.7 trillion in total assets, indicating wider investor demand.
With the MONY fund launch, JPMorgan further expands its digital asset capabilities, signaling continued Wall Street commitment to blockchain-based infrastructure and financial innovation.
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