J.P. Morgan’s Ethereum tokenized funds top $900M

J.P. Morgan's JPMorgan Chase & Co. ↗ 0.24% tokenized money market funds on Ethereum have surpassed $900 million in combined onchain assets under management, cementing the bank's position as one of the largest institutional players deploying traditional financial products on a public blockchain.coinfomania+2

From Pilot to Scale

The milestone reflects rapid growth since J.P. Morgan Asset Management launched its first tokenized money market fund, the My OnChain Net Yield Fund (MONY), on the public Ethereum blockchain in December 2025 with an initial $100 million seed from its own capital. In May 2026, the bank followed with a second fund, the JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), which invests exclusively in U.S. Treasury securities and Treasury-collateralized overnight repurchase agreements.beincrypto+3

Both funds run on infrastructure provided by Kinexys, J.P. Morgan's blockchain division, which acts as a translation layer between the funds' service providers and the Ethereum network. The JLTXX prospectus noted the fund was designed to comply with eligible reserve requirements under the GENIUS Act, the U.S. stablecoin law passed in July 2025, positioning it to attract investment from stablecoin issuers.jpmorgan+1

A Crowded but Growing Market

J.P. Morgan's expansion comes amid a broader surge in tokenized real-world assets. As of mid-2026, total tokenized RWA onchain AUM stands at roughly $22 billion to $25 billion, with tokenized Treasuries alone accounting for approximately $10 billion. BlackRock's ↗ 3.32% BUIDL fund leads the category with about $2.4 billion in assets, while Franklin Templeton's ↗ 4.08% BENJI and Ondo Finance's offerings each manage hundreds of millions.eco+1

Institutional Confidence in Public Chains

The $900 million figure signals that J.P. Morgan views public blockchain infrastructure as ready for regulated financial products at meaningful scale. Other institutions tracking the bank's progress may face increasing pressure to deploy similar strategies as tokenized finance moves from experimentation toward standard operating procedure.cryptonomist+2