JPMorgan Launches Tokenized Money Market Fund on Ethereum as Wall Street Moves Onchain

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Source: CryptoNewsNet Original Title: JPMorgan Launches Tokenized Money Market Fund on Ethereum as Wall Street Moves Onchain: Report Original Link: JPMorgan Chase, a global bank with $4 trillion of assets under management, is rolling out a tokenized money-market fund on Ethereum, pushing deeper into blockchain-based finance amid growing demand from institutional clients.

The fund, dubbed My OnChain Net Yield Fund (MONY) is seeded with $100 million from the bank’s asset management division and is set to open to external, qualified investors this week.

The global bank joins a wave of high-profile financial giants launching tokenized funds on blockchain, with money-market funds leading the charge. Franklin Templeton was among the first traditional finance firms with its BENJI fund in 2021. Then, BlackRock started its BUIDL fund in 2024 with tokenization specialist Securitize, attracting $2 billion in assets to date.

BENJI-7.23%
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