JPMorgan Debuts ‘MONY’ Fund on Ethereum with $100 Million Seed Capital
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JPMorgan launches the 'My OnChain Net Yield Fund' (MONY), a tokenized money market fund on the Ethereum blockchain, seeded with $100 million. Tokenized money market funds now total nearly $9 billion in assets, marking a significant growth since 2023. The fund is exclusively available for wealthy, pre-approved investors with a minimum investment of $5 million.
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- The tokenized money market fund is called “My OnChain Net Yield Fund” (MONY) and operates on the Ethereum blockchain
- JPMorgan’s asset management division will initially seed the fund with $100 million of its own capital
- Tokenized money market funds now hold nearly $9 billion in assets, a nearly tenfold increase since 2023
JPMorgan Chase & Co. announced a big expansion of its blockchain and digital asset initiatives with the launch of a tokenized money market fund. Called the “My OnChain Net Yield Fund” (MONY), it operates on the Ethereum blockchain.
JPMorgan’s asset management division, which oversees trillions of dollars in client assets, will initially seed the fund with $100 million of its own capital.
The fund is only open to wealthy, pre-approved investors. To qualify, a person needs to have at least $5 million to invest, while an institution ne…
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