JPMorgan Launches $100M Tokenized Fund on Ethereum

JPMorgan's Tokenized Fund Launch: JPMorgan Chase has introduced a $100 million tokenized money market fund called My OnChain Net Yield Fund (MONY) on the Ethereum blockchain, allowing institutional clients to access traditional short-term debt instruments on-chain.

Investment Access and Requirements: The fund is available to qualified investors through the Morgan Money portal, with a minimum investment of $1 million and eligibility criteria including individual investments of at least $5 million or institutional investments of $25 million.

Operational Features: MONY operates fully on Ethereum's public network, providing daily liquidity and tokenized access, with returns paid and accrued daily, enhancing transparency and interoperability compared to previous private blockchain initiatives.

Tokenization and Digital Wallets: Investors receive tokenized fund shares stored in blockchain-compatible wallets, and subscriptions can be made using fiat currency or USDC, a stablecoin, marking a significant step in JPMorgan's integration of traditional finance with blockchain technology.