- Only qualified investors with a minimum threshold of $5 million for individual investors and $25 million for institutions will get access to JPMorgan tokenized MONY fund.
- The bank’s Morgan Money portal will handle subscriptions, with investors getting their tokenized fund shares in crypto wallets.
Banking giant JPMorgan has joined other traditional players to bring blockchain tech to its core financial products, like the money market fund. This will be the bank’s first tokenized fund and will function atop the Ethereum blockchain.
As per the WSJ report, the bank’s $4 trillion asset-management division will seed the fund with $100 million of its own capital. The product, called the My OnChain Net Yield Fund (MONY), is a private fund built on JPMorgan’s tokenization platform, Kinexys Digital Assets.
JPMorgan stated that access to this fund will be available only to certain qualified investors. This includes individuals with at least $5 million in investable assets and institutions with a minimum of $25 million. The minimum investment size is set at $1 million.
The passing of the GENIUS Act earlier this year by the Trump administration has led to a greater push for tokenization. The legislation established a regulatory framework for tokenized dollars, or stablecoins. As a result, financial firms are exploring blockchain-based versions of traditional assets, such as bonds, stocks, funds, and other real-world assets. Speaking to WSJ, John Donohue, head of global liquidity at J.P. Morgan Asset Management, said:
“There is a massive amount of interest from clients around tokenization. And we expect to be a leader in this space and work with clients to make sure that we have a product lineup that allows them to have the choices that we have in traditional money-market funds on blockchain.”
How to Subscribe to JPMorgan’s MONY Fund?
Investors will be able to subscribe to JPMorgan’s MONY fund through the bank’s Morgan Money portal, a platform dedicated to money-market investments. On the other hand, participants will receive digital tokens, directly delivered via crypto wallets.
Like traditional money-market funds, MONY invests in wide pools of short-term, low-risk debt securities that offer higher yields than standard bank deposits. The fund accrues interest and pays dividends on a daily basis. Users can complete their subscription and redemptions either through cash or Circle’s native USDC stablecoin.
Over the past year, money-market funds have seen renewed growth and demand. Assets held in money-market funds have climbed to approximately $7.7 trillion, up from $6.9 trillion at the beginning of 2025. At the same time, the combined market capitalization of stablecoins has surpassed $300 billion.
Tokenized money-market funds have seen growing interest from digital-asset investors, as they allow users to earn yield while keeping assets fully on-chain. It addresses the long-standing issue in the crypto market, where capital allocation often happens in non-yield stablecoins.
For asset managers, tokenization offers potential cost efficiencies, faster settlement times, and the integration of funds as collateral on crypto exchanges.
