J.P. Morgan Asset Management has launched its first tokenized money market fund, making it available on the public Ethereum blockchain as institutional demand for blockchain-based financial products accelerates.
The fund, called My OnChain Net Yield Fund (MONY), is a 506(c) private placement designed for qualified investors and is powered by Kinexys Digital Assets, J.P. Morgan’s multi-chain asset tokenization platform. Investors can access the fund exclusively through Morgan Money, the firm’s liquidity management trading and analytics platfo
“Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape,” said George Gatch, chief executive officer of J.P. Morgan Asset Management. “By harnessing technology alongside our deep expertise, we can provide advanced and cost-effective capabilities that help clients achieve their investment goals.”
J.P. Morgan said it is the largest global systemically important bank (GSIB) to introduce a tokenized money market fund on a public blockchain. Morgan Money is also the first institutional liquidity platform to integrate both traditional and on-chain assets, offering access to a full range of money market products.
MONY invests solely in U.S. Treasury securities and repurchase agreements fully collateralized by Treasuries, allowing investors to earn U.S. dollar yields while holding tokenized fund interests on-chain. The fund offers daily dividend reinvestment, and investors can subscribe and redeem using cash or stablecoins via the Morgan Money platform.
According to J.P. Morgan, tokenization enhances transparency, enables peer-to-peer transferability, and may allow broader use of the fund as collateral within blockchain-based financial ecosystems.
Money market funds have long been a cornerstone of liquidity management, offering stability and yield. J.P. Morgan said the launch of MONY reflects a broader industry shift toward tokenizing traditional assets on public networks, driven by growing investor interest in digital financial infrastructure.
“We are excited to be a first mover with the launch of MONY, and we expect other GSIB banks to follow,” said John Donohue, head of global liquidity at J.P. Morgan Asset Management. “Tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products. This is a significant step in how assets will be traded in the future.”
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