JPMorgan Launches Tokenized Money Market Fund on Ethereum Platform

JPMorgan Asset Management has filed to launch a new tokenized money market fund, which will utilize Ethereum as its underlying technology.

The fund, expected to be launched soon, will invest exclusively in US Treasury securities and overnight repurchase agreements fully collateralized by US Treasuries or cash. This move is seen as a significant step towards the adoption of blockchain technology in traditional finance.

Kinexys Digital Assets, JPMorgan's tokenization unit, will record token balances through a permissioned system layered on public blockchain infrastructure. This approach aims to provide faster settlement, collateral mobility, and transferability without leaving regulated fund structures.