JPMorgan Chase is rolling out a tokenized money market fund powered by Ethereum.
The fund, which is called My OnChain Net Yield Fund or MONY, launches today.
[adinserter block="1"]The fund targets qualified investors, offering U.S. dollar yields. MONY invests solely in U.S. Treasury securities and repurchase agreements backed by them.
Investors can access the fund exclusively through the firm’s Morgan Money platform. They can subscribe or redeem using cash or stablecoins, with daily dividend reinvestment.
The fund positions Chase as the first systemically important bank to launch such a product on a public network.
Says J.P. Morgan Asset Management CEO George Gatch,
“Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape.
By harnessing technology alongside our deep expertise in active management, we’re able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals.”
J.P. Morgan Asset Management manages $4 trillion in assets, spanning equities, fixed income, and liquidity products.
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