JPMorgan unveils new $100M Ethereum-based tokenized fund for investors

TLDR

Table of Contents

JPMorgan launches $100M tokenized fund MONY on Ethereum for qualified investors.
MONY allows subscriptions and redemptions using cash or Circle’s USDC stablecoin.
Fund pays interest daily and invests in short-term debt like traditional money funds.
Investors get blockchain-based token ownership via JPMorgan’s Kinexys platform.

JPMorgan Chase has taken a major step into blockchain-based finance by launching its first tokenized money-market fund on the Ethereum network. Backed with $100 million of the bank’s own capital, the fund—called My OnChain Net Yield Fund (MONY)—aims to give qualified investors on-chain access to a traditional cash-management product. The move reflects growing institutional demand for secure, blockchain-enabled investment options offering daily yield and digital ownership through crypto wallets.

Ethereum-Based Fund for Institutional Access

JPMorgan Chase has introduced a new tokenized money-market fund on the Ethereum blockchain. The fund, named My OnChain Net Yield Fund (MONY), is designed for qualified investors. JPMorgan seeded the fund with $100 million of its own capital before opening access to outside participants.

The asset management division of JPMorgan, which oversees $4 trillion in total assets, is behind the launch. MONY is part of the firm’s broader blockchain strategy and is supported by its Kinexys Digital Assets platform. This platform enables the tokenization and on-chain settlement of financial products.

Access Through Morgan Money and On-Chain Wallets

MONY is available via JPMorgan’s Morgan Money portal. Investors receive blockchain-based tokens representing ownership in the fund, which are held in digital wallets. The fund restricts access to individuals with at least $5 million in investable assets and institutions with $25 million or more.

The minimum investment is set at $1 million. MONY is structured as a private fund and uses Ethereum for its blockchain operations. The use of Circle’s USDC stablecoin enables on-chain subscriptions and redemptions alongside traditional cash.

Fund Structure Mirrors Traditional Cash Management

MONY invests in baskets of short-term debt securities similar to other money-market funds. It targets yields that are generally higher than bank deposit rates. The fund pays interest daily and accrues dividends continuously.

By offering a digital version of a conventional product, MONY aims to bridge traditional finance and blockchain. Using stablecoins for settlement allows transactions to stay on-chain without reverting to the banking system.

According to JPMorgan, this structure maintains the same risk profile and purpose as conventional money-market funds. It also provides faster settlement and digital ownership while complying with regulatory standards.

Regulation Encourages Tokenization Initiatives

The fund launch follows the recent U.S. regulatory changes that support digital financial products. The passage of the GENIUS Act established a federal structure for stablecoins. Developments around the Clarity Act have also defined responsibilities over tokenized assets.

“There is a massive amount of interest from clients around tokenization,” said John Donohue, Head of Global Liquidity at JPMorgan Asset Management. He added that the bank is focused on creating blockchain-based versions of traditional funds.

Tokenization has grown rapidly across the financial sector. BlackRock’s tokenized BUIDL fund now manages over $1.8 billion. Goldman Sachs and Bank of New York Mellon are also exploring blockchain-based fund offerings for institutional clients.

Market Growth and Blockchain Integration

The market for tokenized real-world assets has reached $38 billion in total value in 2025. Money-market funds have seen increased interest, with total assets climbing to $7.7 trillion. Stablecoins have also expanded, surpassing $300 billion in total market capitalization.

JPMorgan’s recent efforts include helping execute a commercial paper transaction for Galaxy Digital using Solana. That offering used a USCP token and settled in USDC, showing the bank’s continued testing of blockchain tools across platforms.

The MONY fund is part of JPMorgan’s long-term plan to integrate digital infrastructure into traditional finance. The bank says tokenized funds allow for transparency, lower administrative costs, and real-time settlement capabilities.