ANGELA WEISS/AFP via Getty Images
- JPMorgan is launching a tokenized money market fund tied the the ethereum blockchain.
- The bank’s asset management unit will offer the fund to qualified investors.
- It’s the latest push among major Wall Street firms to deepen involvement in crypto.
JPMorgan is set to offer clients access to a tokenized money market fund as part of Wall Street’s latest crypto push.
The bank announced that its asset management arm will launch a tokenized money-market fund that will run on the ethereum blockchain. My OnChain Net Yield Fund (MONY) will be supported by Kinexys Digital Assets, the bank’s tokenization platform.
MONY will hold short-term debt and issue daily interest payouts in the same way traditional money market funds do. The key difference lies in the fact that its shares will exist on the ethereum blockchain network, and investors can redeem them using either cash or the USDC stablecoin.
The new fund, which The Wall Street Journal reported will be offered to wealthy clients and institutions, will have a minimum investment of $1 million. Its launch is the latest crypto move from the bank, which also recently tokenized some private equity investments in October.
It’s also the latest crypto push from Wall Street broadly. Asset management titans, including Franklin Templeton, Fidelity, and BlackRock, have also been offering crypto investments and blockchain solutions for clients.
JPMorgan will commit $100 million of its own capital to the fund before officially opening it up to investors on December 16.
Despite some skepticism from CEO Jamie Dimon over the years, the bank has made inroads into crypto and has been recently bullish on the price of bitcoin. JPMorgan analysts said recently that bitcoin could buck its latest downtrend and reach $170,000 in 2026.
Asset tokenization has been in focus in 2025, with platforms like Robinhood framing it as a means of trading more efficiently or potentially gaining exposure to private investments.
The passing of the GENIUS Act, meanwhile, has offered support for stablecoins, a key component for tokenized funds like MONY.
