J.P. Morgan tokenizes $800M in assets on Ethereum across two money market funds
J.P. Morgan Asset Management has put roughly $800 million in assets on the public Ethereum blockchain, spread across two tokenized money market funds.
Two funds, one blockchain
The first fund, called MONY, launched in December 2025 with $100 million in seed capital. The second, JLTXX, followed on May 13, 2026, also seeded with $100 million from J.P. Morgan itself.
JLTXX has been the breakout performer. In its first month alone, the fund’s assets under management surged roughly 250%, climbing to around $695 million by early July 2026.
Both funds are backed by US government Treasuries and repurchase agreements, represented as tokens on Ethereum instead of entries in a legacy custody system.
Investors access the funds through J.P. Morgan’s Morgan Money platform, where they can subscribe and redeem using either cash or stablecoins like USDC. Token balances sit in Ethereum addresses, meaning settlement happens on-chain.
Anchorage Digital, a federally chartered crypto bank, was among the early investors in JLTXX.
From private chains to public rails
J.P. Morgan’s blockchain journey didn’t start here. The bank launched its Kinexys platform back in 2020, originally focused on permissioned networks and private transactions.
Why this matters for investors
The rapid growth of JLTXX, from $100 million to $695 million in roughly a month, suggests that institutional allocators are moving capital onto public blockchains at significant pace.
BlackRock launched its own tokenized Treasury fund, BUIDL, and Franklin Templeton has been on-chain for even longer. J.P. Morgan’s entry at this scale raises the stakes for every asset manager that’s been treating tokenization as a future project rather than a present reality.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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