JPMorgan Asset Management has filed to launch a second tokenized money market fund on Ethereum, advancing the bank's push into blockchain-based institutional liquidity products.
The fund, named the JPMorgan OnChain Liquidity Token Money Market Fund (ticker JLTXX), aims to provide current income while maintaining liquidity and principal stability. It will invest exclusively in US Treasury bills, bonds, notes, and overnight repurchase agreements fully collateralized by US Treasuries or cash, targeting a $1 net asset value.
Kinexys Digital Assets, a JPMorgan Chase unit, will design and maintain the blockchain infrastructure. Ethereum is currently the sole blockchain available, with a permissioned system requiring approved addresses for transactions. JPMorgan expects to expand to other blockchains in the future.
This filing follows JPMorgan's first tokenized money market fund, MONY, which was seeded with $100 million. The new fund signals a deeper commitment to integrating tokenized cash products into mainstream asset management, using Ethereum as a transaction layer rather than a legal ownership record.