JPMorgan Enters Reserve Fund Market with Ethereum-Based JLTXX

JPMorgan has filed to launch the JLTXX fund, a tokenized government money market fund that targets stablecoin issuers needing Treasury-backed reserves.

The fund will invest in U.S. Treasury securities and overnight repurchase agreements backed by Treasurys or cash, with a focus on providing current income while maintaining liquidity and principal stability.

Ethereum is the current blockchain rail for the fund, although JPMorgan plans to add more networks later.