JPMorgan Chase is joining the Llist of Traditional Financial Firms seeking to bring Blockchain Technology to an Investing Staple: the Money-Market Fund.
The Banking Giant’s $4 Trillion Asset-Management Arm, is rolling out its First Tokenized Money Fund, enabling Investors to hold Digital Tokens that represent their Ownership in the Fund. In Tokenized Form, Ccrypto Executives say, Assets such as Stocks and Funds can be Moved more Efficiently and Traded at any time.
JPMorgan will Seed the Fund with $100 million of its Own Capital and then Open it to outside Investors on Tuesday. OnChain Net Yield Fund, or “MONY,” will be Open to Qualified Investors, or Individuals with at least $5 million in Investments and Institutions with a Minimum of $25 million. The Fund has a $1 Million Investment Minimum. The Bank will use the Ethereum Blockchain to Record Investors’ MONY Transactions.
Wall Street has waded Deeper into Tokenization since the Passage of the Genius Act earlier this year. The Landmark Measure, which establishes a Regulatory Framework for Tokenized Dollars known as Stablecoins, has Unleashed a Wave of Eefforts to Tokenize everything from Stocks and Bonds to Funds and Real Assets.
“There is a massive amount of interest from clients around tokenization,” said John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management. “And we expect to be a leader in this space and work with clients to make sure that we have a product lineup that allows them to have the choices that we have in traditional money-market funds on blockchain.”
Investors can Subscribe to the MONY Fund through the Bank’s Morgan Money portal, a money-market investing platform. In exchange, they will receive digital tokens in their crypto wallets. Like most money-market funds, JPMorgan’s MONY Holds Baskets of relatively Safe Short-Term Debt Securities that usually Yield more than Bank Deposits. It Pays Interest and Accrues Dividends Daily. Investors can Subscribe and Redeem Shares using Cash or USDC, the Stablecoin issued by Circle Internet Group.
Money-Market Funds, an Investing Stalwart since the 1970s, have Grown more Popular this past year. Assets in Money Funds Total about $7.7 Trillion, up from $6.9 Ttrillion at the Start of 2025, according to the Investment Company Institute. Meanwhile, the Total Market Capitalization of All Stablecoins has Grown to more than $300 billion.
Tokenized Money-Market Funds have become an Attractive Offering for Crypto Investors because they Aallow Holders to Earn a Yield while their Assets remain entirely on the Blockchain. This Solves a Previous Dilemma where Investors Typically held Large Amounts of Idled Cash in Stablecoins, which Traditionally don’t Pass on Interest Income to Holders.
For Fund Managers, Tokenization can Help Cut Costs and Reduce the Time it takes to Settle Transactions. Some Tokenized Money-Market Funds are Accepted as Collateral on Several Crypto Exchanges. And Proponents Say such Offerings can Help Traditional Asset Managers attract New Clients in the Digital-assets Space.
JPMorgan’s Expansion into Tokenization is the Latest move in a Growing Trend initiated by several Major Asset Managers, including BlackRock, which Operates the Largest Tokenized Money-Market Fund with more than $1.8 billion in Assets under Management.
In July, Goldman Sachs and Bank of New York Mellon, said they would Partner to Launch Digital Tokens that Confer Ownership of Money-Market Funds, Managed by many of the Biggest Investment firms, including BlackRock and Fidelity Investments, as well as their Own Asset-Management Arms.
JPMorgan recently Tokenized a Private-Equity Fund, on its Blockchain Platform for Wealthy Clients served by its Private Bank. And Companies, including Robinhood, Kraken, and Gemini, Earlier this Year Launched Tokenized Stocks and Exchange-Traded Funds for Non-U.S. Investors.
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