JPMorgan Asset Management has entered the rapidly growing tokenized finance space with the launch of its first on-chain money market fund, the My Onchain Net Yield Fund (MONY). The fund is now live on the public Ethereum blockchain, marking a milestone for one of the world’s largest financial institutions.
MONY is powered by Kinexys Digital Assets, JPMorgan’s multi-chain tokenization platform, and is structured as a 506(c) private placement, making it available exclusively to qualified investors. Subscriptions are handled through Morgan Money, the firm’s institutional liquidity management and trading platform, which integrates both traditional and blockchain-based assets.
“By harnessing technology alongside our deep expertise in active management, we’re able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals,” said George Gatch, CEO of JPMorgan Asset Management.
The fund invests solely in U.S. Treasury securities and repurchase agreements fully collateralized by Treasuries, maintaining the conservative risk profile expected from money market products. Investors receive fund tokens directly to their blockchain addresses, enabling them to earn U.S. dollar yields while holding the asset on-chain.
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MONY offers daily dividend reinvestment, and investors can subscribe or redeem using either cash or stablecoins through the Morgan Money platform. By tokenizing the fund, JPMorgan aims to introduce benefits such as enhanced transparency, peer-to-peer transferability, and the potential for broader use as on-chain collateral.
Money market funds have long been a core liquidity tool for institutions, prized for stability and predictable yield. JPMorgan says the launch of MONY reflects a broader industry shift toward placing traditional financial instruments on public blockchain networks, where programmability and interoperability can unlock new efficiencies.
FAQ💼
- What is JPMorgan’s new tokenized fund?
It is the My OnChain Net Yield Fund (MONY), a tokenized money market fund launched on Ethereum. - Who can invest in the MONY fund?
The fund is available only to qualified investors via a private 506(c) placement. - What assets back the tokenized fund?
MONY invests in U.S. Treasuries and Treasury-backed repurchase agreements. - Why is this launch significant for crypto markets?
It signals rising institutional confidence in Ethereum as infrastructure for tokenized finance.
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