JPMorgan to Launch MONY Fund with $100M Seed on Ethereum Network

TLDR

• JPMorgan has introduced a $100 million tokenized money-market fund, called MONY, on the Ethereum blockchain.
• The fund is limited to qualified investors, requiring a $1 million minimum investment and high net-worth thresholds.
• MONY operates via JPMorgan’s Kinexys and Morgan Money platforms, offering tokenized shares with daily dividend accrual.
• Subscriptions and redemptions are supported in both cash and USDC, linking traditional finance with crypto payment rails.
•  The GENIUS Act helped enable this move by providing clarity on dollar-backed stablecoins and onchain asset settlement.

JPMorgan Chase has launched a tokenized money-market fund using the Ethereum blockchain, seeding it with $100 million of its capital. The fund is built through its Kinexys Digital Assets platform and named the My OnChain Net Yield Fund, or MONY. The vehicle will be open to qualified investors starting Tuesday, according to a Wall Street Journal report.

JPMorgan Brings Money Markets Onchain

According to a post on X by WSJ, the MONY fund uses blockchain to provide tokenized shares to investors via JPMorgan’s Morgan Money portal. These digital tokens represent actual fund shares and are stored in investors’ crypto wallets. The platform allows daily accrual of dividends while tracking current money-market interest rates.

John Donohue, JPMorgan’s head of global liquidity, said, “There is a massive amount of interest from clients around tokenization.” He added, “We expect to be a leader in this space and work with clients to provide blockchain-based fund options.” The bank developed the product to mirror traditional money-market fund features in a digital format. Institutional clients and individuals must meet minimum asset requirements to participate in the fund.

Investors must hold at least $5 million in investable assets, while institutions need a minimum of $25 million. The minimum subscription amount is set at $1 million.  The MONY fund invests in short-term, high-quality debt instruments, similar to conventional money-market portfolios. The fund structure enables faster settlements and better transparency via blockchain technology. All investor activity occurs through JPMorgan’s proprietary digital investing tools.

Stablecoins and Institutional Adoption

Investors can subscribe or redeem shares using cash or the USDC stablecoin issued by Circle. This option supports both traditional and crypto-native payment rails within a regulated framework. Using USDC reflects JPMorgan’s broader push into blockchain-powered financial infrastructure. The MONY fund supports daily liquidity and aims to maintain stable yield returns based on prevailing market conditions.

All transactions follow compliance protocols and institutional custody standards. Investors maintain control of assets through secure digital wallets. This initiative follows the GENIUS Act passed earlier this year, which clarified the use of dollar-backed stablecoins. The act helped remove legal uncertainty around tokenized asset settlement and onchain transactions.

As a result, financial institutions have accelerated blockchain product launches. JPMorgan continues to expand its blockchain operations through tokenized deposits and onchain settlements. The MONY fund aligns with the bank’s strategy to modernize traditional finance using decentralized technology. The platform supports institutional-grade operations under regulated conditions.

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