J.P. Morgan AM Puts About $800M of Tokenized Money-Market Assets on Public Ethereum

J.P. Morgan Asset Management has moved roughly $800 million in assets onto the public Ethereum blockchain through two tokenized money market funds. The first product, MONY, debuted in December 2025 with $100 million in seed capital. A second fund, JLTXX, launched May 13, 2026, also seeded with $100 million from J.P. Morgan. JLTXX has led the growth: in its first month, assets under management jumped about 250%, reaching roughly $695 million by early July 2026. Both funds hold U.S. government Treasuries and repurchase agreements, with ownership represented as Ethereum-based tokens rather than traditional custody ledger entries. Investors access the funds via J.P. Morgan's Morgan Money platform and can subscribe or redeem using cash or stablecoins such as USDC. Token balances are held in Ethereum addresses, enabling onchain settlement. Anchorage Digital, a federally chartered crypto bank, was among JLTXX's early investors. The launch marks a notable step in J.P. Morgan's blockchain strategy, which began with the 2020 rollout of its Kinexys platform focused on permissioned networks and private transactions. For investors, JLTXX's rapid rise from $100 million to about $695 million in roughly a month points to accelerating institutional demand for deploying capital on public blockchains. BlackRock has rolled out its tokenized Treasury fund, BUIDL, and Franklin Templeton has operated onchain for longer. J.P. Morgan's move at this scale increases pressure on asset managers still treating tokenization as a longer-term initiative rather than an immediate market shift.