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JPMorgan Launches MONY Tokenized Money Market Fund on Ethereum
Source: CryptoNewsNet Original Title: JPMorgan debuts MONY tokenized money market fund on Ethereum Original Link: https://cryptonews.net/news/finance/32138137/
Overview
JPMorgan Asset Management has launched its first tokenized money-market fund named My OnChain Net Yield Fund (MONY) on the Ethereum blockchain.
The fund, supported by JPMorgan’s Kinexys Digital Assets platform, will be available to wealthy individuals as well as institutions that meet strict investment thresholds.
Fund Details
Starting with a $100 million seed from JPMorgan, the MONY fund offers a way for investors to earn yields on blockchain-based assets, responding to increasing client interest in digital asset investment options.
Investors can use cash or USDC to subscribe and receive digital tokens representing fund ownership on the blockchain.
Market Context
The launch reflects a growing trend in tokenizing traditional financial assets among major asset managers. JPMorgan joins major players such as BlackRock and Goldman Sachs in pushing tokenized finance into the mainstream.
BlackRock’s tokenized money market fund, commonly known as the BUIDL fund, has seen strong asset growth since its launch in early 2024. With approximately $1.8 billion in assets under management as of December 14, the fund holds a leading position in the tokenized US Treasury market.