JPMorgan's $100 million token fund goes live on Ethereum
JPMorgan just dropped a new money-market fund called My OnChain Net Yield Fund (MONY), built on the Ethereum blockchain and seeded with $100 million.
Starting December 16, qualified investors can get in—if they meet some pretty steep minimums.
The fund invests in short-term debt that pays daily interest and is tokenized and administered through the Kinexys Digital Assets platform.
How MONY works (and who can invest)
To join MONY, individuals must have at least $5 million in investments, and institutions must have at least $25 million in investments to qualify.
There's also a $1 million minimum via the Morgan Money portal if you're using cash or USDC.
Thanks to tokenization, shares can move instantly as collateral—helping cut down on settlement delays in huge financial markets.
Why this matters (and who else is playing)
This launch follows new stablecoin rules under the Genius Act of 2025 and shows how big banks are jumping into crypto-powered finance.
JPMorgan is now competing with BlackRock (which runs a larger tokenized fund), plus Goldman Sachs and BNY Mellon, who are rolling out their own digital funds soon.