#JPMorgan
JPMorgan Launches Tokenized Money Market Fund on Ethereum
Devryn
December 15, 2025
201 views
JPMorgan Chase is stepping deeper into blockchain finance, this time with a product that looks very familiar to Wall Street.
The bank has launched a tokenized money-market fund on Ethereum, marking one of the clearest signs yet that large financial institutions are moving beyond experiments and into real onchain products designed for investors.
The fund, called My OnChain Net Yield, or MONY, is a private money-market vehicle issued by JPMorgan Asset Management. It is seeded with $100 million of the bank’s own capital and is aimed squarely at institutional clients and high-net-worth investors, not crypto traders chasing volatility.
In simple terms, it is a traditional money-market fund, but the ownership lives on a blockchain.
A Familiar Product, Delivered Differently
Money-market funds are among the most conservative products in finance. They invest in short-term, high-quality debt and are used by institutions to park cash, manage liquidity, and earn modest yield.
JPMorgan is not changing that formula. What it is changing is how the fund is issued, held, and transferred.
Instead of relying solely on traditional fund administration systems, MONY issues digital tokens on Ethereum that represent ownership in the fund. Investors can subscribe using cash or stablecoins and receive tokenized shares that can be held in compatible digital wallets.
The pitch is efficiency. Blockchain settlement can be faster, more transparent, and easier to integrate with other digital financial tools. For large investors managing billions in cash, shaving time and operational friction matters.
Why Ethereum, Why Now
Ethereum has become the default blockchain for large financial institutions experimenting with tokenization. It offers a mature ecosystem, deep liquidity, and a growing set of standards for issuing real-world assets onchain.
Timing also plays a role. Tokenized funds have gained momentum over the past year as interest rates remain elevated and investors search for safe yield options that can operate alongside digital assets.
Stablecoins now move enormous sums across blockchains, but they typically do not pay interest. Tokenized money-market funds fill that gap, allowing capital to stay onchain while earning yield backed by regulated assets. That combination is proving difficult for institutions to ignore.
JPMorgan has framed the move as a response to client demand rather than a bet on crypto prices. The goal is infrastructure, not speculation.
Growing Appetite for Tokenization and Real-World Assets
Behind JPMorgan’s move is a surge in client interest that has been building quietly.
“There is a massive amount of interest from clients around tokenization,” said John Donohue, who leads liquidity at JPMorgan Asset Management. The firm expects to be a leader in the space and to give investors the same range of choices on blockchain that they already have in traditional money-market funds.
That demand is arriving as the regulatory picture in the U.S. begins to look more settled. Policymakers have taken steps this year to clarify how digital asset activity fits within the existing financial system. New rules around dollar-backed stablecoins and clearer signals on oversight of blockchain-based products have reduced some of the uncertainty that previously kept large institutions cautious.
Those changes have encouraged banks and asset managers to move faster on tokenization initiatives across funds, securities, and other real-world assets.
The market reflects that shift. The total value of tokenized real-world assets reached roughly $38 billion in 2025, a record level. Tokenized money-market funds have been particularly attractive to crypto-native investors, offering a way to earn yield without leaving the blockchain or converting assets back into traditional cash accounts.
A Crowded Field Is Taking Shape
JPMorgan’s launch places it alongside a growing group of large financial firms experimenting with tokenized funds.
BlackRock operates the largest tokenized money-market fund, with assets already measured in the billions. Goldman Sachs and Bank of New York Mellon have also outlined plans to issue digital tokens tied to money-market products from major asset managers. At the same time, crypto exchanges have begun rolling out tokenized stocks and other securities in select markets.
What was once a collection of pilot programs is turning into a competitive landscape.
The Quiet Bet Behind the Headlines
There is a longer-term bet embedded in JPMorgan’s move. If financial assets increasingly live onchain, money-market funds could become core building blocks of a new financial stack.
Tokenized cash can be used as collateral, settle instantly, and plug into automated systems that move value without waiting for bank cut-off times or settlement windows.
That future is still taking shape, and it will not arrive overnight. But moves like this bring it closer, one conservative product at a time.
For JPMorgan, MONY is not a moonshot. It is something more deliberate. Take a product Wall Street already trusts, put it on new rails, and see where efficiency leads.
That approach may end up being the most convincing case yet for blockchain finance inside traditional markets.
Stay Connected
You can stay up to date on all News, Events, and Marketing of Rare Network, including Rare Evo: America’s Premier Blockchain Conference, happening July 28th-31st, 2026 at The ARIA Resort & Casino, by following our socials on X, LinkedIn, and YouTube.
JPMorgan Embraces Crypto Collateral: A Major Shift in Banking
Devryn
October 24, 2025
16 views
JPMorgan Embraces Crypto Collateral: A Major Shift in Banking
JPMorgan Chase is preparing to allow institutional clients to use Bitcoin and Ethereum holdings as collateral for loans. This move, expected by year-end, marks a decisive pivot from the bank’s earlier skeptical stance toward cryptocurrencies.
Reports from Bloomberg, CoinDesk and others indicate the program will rely on third-party custody for the pledged assets and extends JPMorgan’s earlier acceptance of crypto-linked ETFs as collateral.
Why This Matters
From Skeptic to Adopter
CEO Jamie Dimon long dismissed Bitcoin—calling it “worthless” or a “pet rock”—yet this policy change suggests a hard turn by JPMorgan toward crypto integration.
This is not about hype. It’s about a bank with over $4 trillion in assets formally recognising crypto as part of its credit infrastructure.
Crypto Moves Into the Core System
Traditionally, banks only accepted highly liquid, low-volatility assets as loan collateral. Bitcoin and Ethereum are neither of those. So JPMorgan’s interest signals crypto is being treated more like mainstream assets—albeit with special guardrails.
Financial institutions now appear ready to unlock liquidity for clients who hold crypto without forcing them to sell. This could reshape how crypto assets are used in major portfolios and by large institutions.
Implications for Institutions and Investors
-
Liquidity without selling: Crypto holders can pledge assets as collateral instead of selling, preserving upside while accessing cash.
-
Broader adoption: Large banks entering the space bring legitimacy and infrastructure—moving crypto further toward the mainstream.
-
Competitive pressure: If JPMorgan rolls this out, other banks will likely follow, accelerating institutional crypto services.
-
Regulatory interplay: The move aligns with a more friendly regulatory tone in Washington and signals that banks believe the legal risks are manageable.
Key Details of the Proposal
-
Institutionally focused: The offering is targeted at institutional clients, not retail.
-
Third-Party Custody Model: Crypto pledged will be held by an approved external custodian, so the bank avoids direct asset custody.
-
Global Scope: The program is expected to launch “by end of year” across relevant jurisdictions, though final details remain subject to change.
-
Extension from ETFs: Earlier this year, JPMorgan accepted crypto-linked ETFs as loan collateral. This step advances directly to underlying crypto assets.
What to Watch Moving Forward
-
Launch Date and Terms: When exactly will the program go live and on what terms (loan-to-value ratios, margin calls, etc.)?
-
Asset Coverage: Will it start with Bitcoin and Ethereum only, or eventually include other major tokens?
-
Risk Framework: How will JPMorgan manage volatility, liquidation risk, custody failure and regulatory oversight?
-
Market Reaction: Will this spur greater institutional crypto investment and service offerings from banks, or will it prompt caution due to the novelty of crypto as collateral?
-
Competitive Impact: Which banks follow JPMorgan’s lead and how fast will the industry evolve?
Final Thoughts
JPMorgan’s plan to allow Bitcoin and Ethereum as loan collateral is a landmark for the crypto-banking crossover. It reflects growing confidence in digital assets, regulatory progress and the adoption of the crypto industry.
For crypto investors, this is a strong signal: the era of fringe use-cases is fading, and crypto is increasingly being integrated into core financial services. For the banking sector, it marks the beginning of a new chapter where digital assets may become standard tools in credit and liquidity management.
The details still matter—but the direction is clear. Crypto is stepping firmly into the mainstream.