INSTITUTIONAL | JPMorgan to Launch a Tokenized Money Market Fund Supporting Stablecoin Issuers Under GENIUS Act

America’s largest bank, JPMorgan Chase, has filed to launch a second tokenized money market fund on the Ethereum blockchain deepening the Wall Street bank’s push into on-chain financial products as traditional finance firms race to tokenize real-world assets.

The new fund, called the JPMorgan OnChain Liquidity-Token Money Market Fund, and trading under the ticker, JLTXX, will invest primarily in U.S. Treasury securities and overnight repurchase agreements backed by Treasuries, according to filings and company statements.

The product comes less than a month after Morgan Stanley, the world’s largest wealth management firm, launched a similar product, dubbed The Stablecoin Reserves Portfolio, aimed primarily at stablecoin issuers seeking compliant ways to manage reserve assets.

The product will operate through JPMorgan’s Kinexys Digital Assets platform, with token balances recorded on Ethereum while traditional ownership records are maintained off-chain. Investors will be able to subscribe and redeem shares through the bank’s Morgan Money platform using either cash or stablecoins through third-party providers.

JPMorgan said the fund is structured to support stablecoin reserve requirements under the GENIUS Act, the U.S. stablecoin framework passed in 2025, signaling how banks are increasingly aligning tokenized financial products with emerging digital asset regulations.

The filing follows the launch of JPMorgan’s first tokenized money market fund, MONY, introduced in late 2025 for qualified investors. That fund was reportedly seeded with $100 million of the bank’s own capital.

In a statement, JPMorgan Asset Management said it would invest $100 million into JLTXX at launch, alongside participation from crypto custodian, Anchorage Digital.

The move comes as major financial institutions accelerate efforts to bring traditional financial instruments such as Treasury funds, bonds and credit products on-chain aiming to improve

• settlement speed,
• collateral mobility, and
• operational efficiency.

The market for tokenized real-world assets has grown rapidly over the past two years with JPMorgan citing estimates that roughly $30 billion worth of traditional assets are now represented on public blockchains.

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