JPMorgan Chase is launching its first tokenized money-market fund, called My OnChain Net Yield Fund (MONY), on the Ethereum blockchain, backed by a $100 million investment from the bank’s $4 trillion asset-management division. The fund will be open to qualified investors, requiring a minimum investment of $1 million, with individual investors needing at least $5 million and institutions $25 million. This initiative follows the passage of the Genius Act, which has spurred interest in tokenization in finance. JPMorgan aims to lead in this space, offering blockchain alternatives to traditional money-market funds.
