J.P. Morgan Asset Management has launched its first tokenized money market fund, My OnChain Net Yield Fund (MONY), making it available on the public Ethereum blockchain. The firm said qualified investors can access the 506(c) private placement fund by subscribing through Morgan Money, its open-architecture trading and analytics platform for liquidity management that now integrates traditional and on-chain assets into a single institutional workflow.
The fund is powered by Kinexys Digital Assets, a multi-chain asset tokenization solution described by J.P. Morgan Asset Management. Through Morgan Money, qualified investors receive tokens at their blockchain addresses, allowing them to hold a money market fund position on-chain while pursuing U.S. dollar-denominated yields.
J.P. Morgan Asset Management said MONY invests only in traditional U.S. Treasury securities and repurchase agreements fully collateralized by U.S. Treasury securities. The fund offers daily dividend reinvestment, and investors will be able to subscribe and redeem using cash or stablecoins through the Morgan Money platform. The firm said tokenization can provide increased transparency, enable peer-to-peer transferability, and create potential for broader collateral usage within blockchain ecosystems.
The launch positions J.P. Morgan as the largest global systemically important bank to introduce a tokenized money market fund on a public blockchain, according to the company. The firm framed the product as part of a broader industry move toward tokenizing financial assets on public networks as institutional demand for on-chain instruments grows.
J.P. Morgan Asset Management said it oversees $4 trillion in assets under management as of September 30, 2025, and serves institutional, retail, and high net worth clients globally across a range of strategies, including liquidity products.
KEY QUOTES:
“Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape,” said George Gatch, CEO of J.P. Morgan Asset Management. “By harnessing technology alongside our deep expertise in active management, we’re able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals.”
George Gatch, CEO of J.P. Morgan Asset Management
“We are excited to be a first mover with the launch of MONY, and we expect other GSIB banks to follow our lead in providing clients with greater optionality in how they invest in money market funds,” said John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management. “With Morgan Money, tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products. This marks a significant step forward in how assets will be traded in the future, and we’re excited about the opportunities this creates for our clients and for the whole industry.”
