JPMorgan Launches Tokenized Money-Market Fund on Ethereum
- JPMorgan has launched the My OnChain Net Yield Fund (MONY) with an initial capital of $100 million.
- The fund is built on the Ethereum network and aims to meet rising institutional demand for tokenized financial products.
- Access to MONY is restricted, requiring a minimum investment of $5 million for individuals and $25 million for institutions.
- Investors receive digital tokens representing ownership, which are stored in a crypto wallet instead of traditional accounts.
- The fund aims for yields higher than typical bank deposits, with interest compounded daily and dividends continuously.
JPMorgan’s move into tokenized finance reflects strong client interest in blockchain-based alternatives, as noted by executives from its asset management division. The launch aligns with broader trends in asset management, including increasing assets under management in similar funds like BlackRock’s BUIDL fund.
With MONY targeting institutional investors and structured to mimic traditional money market solutions, it marks a significant step in JPMorgan’s strategy to integrate DeFi principles into mainstream finance.
