JPMorgan Chase and Co. is set to introduce its first tokenized money-market fund on the Ethereum blockchain, marking a significant step in the bank’s push into blockchain-based financial products, The Wall Street Journal reported on Monday.
The private fund, named My OnChain Net Yield Fund (MONY)will be supported by JPMorgan’s tokenization platform Kinexys Digital Assets. According to the report, the fund will be available exclusively to qualified investorswho will be able to subscribe through the Morgan Money portal.
JPMorgan is expected to seed the fund with $100 million and formally open it to investors on Tuesday. The move reflects growing institutional interest in tokenized assets, particularly in low-risk instruments such as money-market funds.
John Donohue, head of global liquidity at JPMorgan Asset Management, said there is “a massive amount of interest from clients around tokenization,” highlighting demand for blockchain-enabled investment products that offer efficiency, transparency, and faster settlement.
The launch positions JPMorgan among the first major global banks to bring a tokenized money-market fund to a public blockchain, reinforcing the increasing convergence between traditional finance and digital asset infrastructure.
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