J.P. Morgan Asset Management announced the launch of its first tokenized money‑market fund, the My OnChain Net Yield Fund (MONY), on the Ethereum blockchain. The fund is a 506(c) private placement that will be offered exclusively to qualified investors through the firm’s Morgan Money platform.
MONY invests solely in U.S. Treasury securities and repurchase agreements that are fully collateralized by Treasuries, providing a low‑risk, yield‑bearing vehicle. Investors can subscribe or redeem daily using cash or the stablecoin USDC, and the fund offers daily dividend reinvestment. The tokenization is powered by Kinexys Digital Assets, a multi‑chain solution that enables on‑chain ownership and transferability of the fund’s shares.
J.P. Morgan seeded the fund with $100 million of its own capital and set a $1 million minimum investment. Qualified investors must have at least $5 million in investments (individuals) or $25 million (institutions). The fund opened to outside investors on Tuesday, December 16, 2025, following the announcement on December 15.
This launch marks the first time a global systemically important bank has issued a money‑market fund on a public blockchain, positioning J.P. Morgan as a pioneer in the emerging on‑chain asset space. The move expands the firm’s product suite for institutional clients seeking blockchain‑enabled liquidity solutions and signals a broader industry shift toward tokenized financial products. Other major asset managers, including BlackRock, Fidelity, and Franklin Templeton, are also launching tokenized money‑market funds, underscoring a growing competitive landscape.
The fund’s introduction comes amid regulatory developments such as the GENIUS Act, which provides a framework for stablecoins and tokenized assets. By leveraging Ethereum and Kinexys, J.P. Morgan aims to enhance transparency, reduce settlement friction, and broaden collateral usage for its clients. The launch also reflects the firm’s broader strategy of integrating blockchain technology across payments, assets, and information services.
J.P. Morgan Asset Management reported $4 trillion in assets under management as of September 30, 2025, while JPMorgan Chase & Co. had $4.6 trillion in total assets. The MONY launch is expected to reinforce the firm’s leadership in innovative investment solutions and could attract significant capital from qualified investors seeking yield‑bearing, blockchain‑enabled products.
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