Why JPMorgan Put a Tokenized Money Market Fund on Ethereum
JPMorgan launched the tokenized My OnChain Net Yield Fund (MONY) on the Ethereum mainnet to integrate traditional cash products with onchain liquidity and collateral workflows.Summary
JPMorgan Asset Management launched the My OnChain Net Yield Fund (MONY), a tokenized money market fund, on the Ethereum mainnet via its Kinexys Digital Assets platform on December 15, 2025. The fund invests in US Treasurys and Treasury-backed repos, offering daily dividend reinvestment, and allows qualified investors to subscribe and redeem using cash or stablecoins. The significance lies in using public Ethereum as the settlement layer, positioning MONY alongside stablecoins and tokenized Treasurys, enabling 24/7 operations, enhanced collateral mobility, and integration into broader blockchain-based markets. JPMorgan aims to leverage Ethereum's existing liquidity base and infrastructure for settlement, compliance, and distribution. While the product is tightly gated under Rule 506(c) for accredited investors, its success hinges on whether MONY tokens become usable collateral, if other major banks follow suit on public chains, and if stablecoin settlement deepens beyond simple subscriptions.
(Source：Cointelegraph)