JPMorgan Asset Management Launches First Tokenized Money Market Fund on Ethereum

By James, Admin
December 15, 2025 – 7:00 PM CST, Chicago, IL

Today J.P. Morgan Asset Management announces the launch of its first tokenized money market fund, representing a major institutional milestone in bringing traditional cash instruments onto public blockchain infrastructure. 

The new fund, called My OnChain Net Yield Fund (MONY), is issued on the public Ethereum blockchain, allowing qualified investors to hold tokenized fund shares directly in compatible wallets. 

MONY is structured as a 506(c) private placement, meaning it is available only to accredited investors and institutions that meet SEC‑required criteria. 

According to today’s announcement, the fund may be subscribed to using either U.S. dollars or stablecoins, including USDC, providing flexibility between traditional and digital settlement rails. 

The underlying assets consist exclusively of U.S. Treasury securities and repurchase agreements fully collateralized by U.S. government debt, reflecting the conservative risk profile typical of money market funds. 

Qualified investors accessing MONY through JPMorgan’s institutional liquidity platform, Morgan Money®, can receive on‑chain tokens representing fund ownership. 

In a statement, George Gatch, CEO of J.P. Morgan Asset Management, says: “Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape.” 

Gatch adds that tokenization on Ethereum delivers increased transparency, peer‑to‑peer transferability, and operational efficiencies compared with traditional share issuance frameworks. 

John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management, says today’s launch marks a “first mover” moment for global systemically important banks, and expects peers to pursue similar capabilities. 

Donohue highlights that the integration of traditional securities with blockchain settlement could “fundamentally change the speed and efficiency of transactions” for institutional liquidity management. 

Industry observers note that this move places JPMorgan among a small group of financial giants actively integrating tokenization into core products, developing what some describe as institutional‑grade on‑chain cash management tools. 

The launch follows broader industry trends where large asset managers and banks — including some issuing tokenized real estate or corporate debt — increasingly explore blockchain as a settlement and custody layer. 

MONY’s introduction also comes amid heightened regulatory clarity around stablecoins and tokenized securities frameworks in the U.S., which several analysts say reduces legal uncertainty for institutional blockchain products. 

Despite traditional caution toward crypto markets from legacy institutions in the past, JPMorgan’s continued expansion into blockchain reflects a strategic shift toward embracing digital infrastructure for settlement and collateral operations. 

Market participants responded to the news with interest in institutional forums, viewing today’s announcement as a potential catalyst for broader acceptance of tokenized instruments beyond trading venues. 

The fund is seeded with internal capital before outside subscriptions are accepted, and JPMorgan confirms it will manage MONY within existing regulatory frameworks applicable to money market instruments and investment companies.