JPMorgan launches tokenized money fund MONY on Ethereum

JPMorgan has taken another step into digital assets by launching a new tokenized money fund on Ethereum aimed at modernizing traditional cash management.

JPMorgan unveils tokenized money fund MONY on Ethereum

JPMorgan Chase has introduced a new tokenized money fund on the Ethereum blockchain called My Onchain Net Yield Fund (MONY), the Wall Street Journal reported. The product brings regulated money market exposure onto a public blockchain while keeping familiar fund structures for investors.

The MONY fund launched with an initial size of $100 million, underscoring the scale of JPMorgan’s latest move into blockchain-based financial products. Moreover, it signals growing confidence among large banks that tokenization can enhance distribution, settlement, and transparency for cash-like instruments.

How the MONY fund works

The MONY vehicle operates directly on the Ethereum blockchain, enabling investors to access money market investments through tokenized shares that can be recorded and transferred on-chain. However, the underlying portfolio still follows the traditional regulatory framework for money market funds, combining familiar rules with new technology rails.

This structure is designed to let institutions and qualified investors integrate a blockchain investment product into their existing custody and treasury workflows. That said, the fund’s on-chain representation could eventually support faster settlement times and more efficient collateral use across digital markets.

Part of JPMorgan’s broader digital asset strategy

The launch of My Onchain Net Yield Fund forms part of broader jpmorgan digital asset initiatives that include payments, settlements, and on-chain collateral management. Furthermore, it shows how major banks are moving beyond pilots toward live blockchain-based offerings with meaningful capital commitments.

This new JPMorgan onchain fund adds to the bank’s expanding portfolio of digital projects as traditional financial institutions continue to explore blockchain applications for investment products. As a result, competition is intensifying among global asset managers and banks to define standards for institutional blockchain infrastructure.

Tokenization momentum among traditional finance players

While the MONY fund is specific to JPMorgan, it arrives amid a wider wave of tokenization experiments across traditional finance. Strategy, for instance, has been expanding its digital asset efforts, and other firms have tested pilots involving tokenized funds and securities on both public and permissioned blockchains.

Industry executives argue that a carefully structured tokenized money fund can offer operational efficiencies compared with legacy record-keeping systems. However, they also acknowledge that regulation, interoperability, and investor education remain critical hurdles before these structures can scale across global markets.

In summary, the My Onchain Net Yield Fund launch on Ethereum highlights how leading financial institutions are moving from proofs of concept to live, on-chain portfolios. The fund’s initial $100 million size and focus on money markets position it as a meaningful test case for tokenized cash management in regulated finance.