JPMorgan seeds a $100m tokenized money market fund on Ethereum, extending its Kinexys platform from private chains to public blockchains for institutional cash JPMorgan seeds a $100m tokenized money market fund on Ethereum, extending its Kinexys platform from private chains to public blockchains for institutional cash

JPMorgan launches $100m tokenized fund on Ethereum mainnet

2025/12/15 20:21

JPMorgan seeds a $100m tokenized money market fund on Ethereum, extending its Kinexys platform from private chains to public blockchains for institutional cash management.

Summary
  • JPMorgan’s new tokenized money market fund on Ethereum is seeded with $100m in internal capital and targets institutional treasury clients seeking onchain cash instruments.​
  • The fund builds on Kinexys and follows JPM Coin and JPMD deposit tokens on Base, plus a recent $50m tokenized commercial paper deal on Solana.​
  • Tokenized money market funds have doubled assets from about $4b to $8.6b in 2025, underscoring growing institutional adoption of public blockchains.

JPMorgan Chase & Co. has launched its first tokenized money market fund on the public Ethereum blockchain, the bank announced, marking an expansion of major financial institutions’ use of public blockchain networks for regulated financial products.

JPMorgan Chase & Co. initiates tokenized money market fund

The fund went live on December 15, 2025, and was seeded with $100 million in internal capital, according to the announcement. The product is designed for institutional clients seeking money market exposure through blockchain-based infrastructure.

The fund operates on Ethereum’s (ETH) main network, enabling continuous access and near real-time settlement, compared to legacy systems that often require multiple days to process transactions, according to the bank. The structure is intended to improve liquidity management and operational efficiency for institutions utilizing short-term cash instruments.

The launch builds on JPMorgan’s blockchain development under its Kinexys platform, which previously focused on permissioned distributed ledger technology. Earlier initiatives included the JPMD USD deposit token launched on Coinbase’s Layer 2 network, Base. The Ethereum-based money market fund represents a shift toward public blockchain infrastructure for the bank’s regulated financial products.

JPMorgan has positioned deposit-based tokenized products as an alternative to stablecoins for institutional clients, citing the ability to offer yield-bearing instruments within regulated banking frameworks. The bank stated it plans to expand access to the fund over time and introduce additional currencies, subject to regulatory approval.

The launch follows a $50 million commercial paper issuance JPMorgan executed on the Solana public blockchain last week, according to reports. The timing coincides with sector-wide growth in tokenized money market funds, which expanded from $4 billion in assets under management at the start of 2025 to $8.6 billion by November, according to industry data.

The deployment of a money market fund on Ethereum’s public network signals growing institutional adoption of public blockchains as infrastructure for global capital markets, industry observers noted.

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