In a landmark move for institutional blockchain adoption, JPMorgan Chase has officially launched its first tokenized money market fund on the public Ethereum blockchain. The fund, named My OnChain Net Yield Fund (MONY), signals a massive shift as the world’s largest banks move beyond private experiments and into the public decentralized finance (DeFi) ecosystem.
Inside the MONY Fund: Safety Meets Speed
The MONY fund is designed to provide institutional-grade security with the efficiency of blockchain settlement. Initially seeded with $100 million of JPMorgan’s own capital, the fund’s strategy is conservative, focusing exclusively on:
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U.S. Treasury securities
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Fully collateralized Treasury repos
By leveraging Ethereum, the fund offers daily dividend reinvestment and a steady U.S. dollar yield. Unlike traditional settlement cycles that can take days, the tokenized structure allows for near-instant transparency and peer-to-peer transferability.
How to Access: The Morgan Money Gateway
While the fund lives on a public blockchain, it remains a regulated vehicle. It is issued as a 506(c) private placement, meaning it is restricted to qualified investors.
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Eligibility: Individuals must have at least $5 million in investable assets, while institutions require $25 million.
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Minimum Investment: The entry point is set at $1 million.
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Platform: Investors can subscribe via the Morgan Money platform using either traditional cash or stablecoins like USDC.
Once processed, investors receive digital tokens directly in their blockchain wallets, which represent their share of the fund and accrue yield in real-time.
A $30 Billion Landmark for Real-World Assets (RWA)
The launch of MONY comes at a pivotal moment. In late 2025, the market for tokenized real-world assets (RWAs) officially surpassed $30 billion. Ethereum continues to dominate this space, serving as the primary layer for institutional liquidity.
JPMorgan’s entry puts it in direct competition with other giants like BlackRock, whose BUIDL fund has already seen significant success. However, as the largest “Global Systemically Important Bank” (GSIB) to issue on a public chain, JPMorgan’s move is being hailed as the “final seal of approval” for public blockchain infrastructure in global finance.
Today @jpmorgan, the world's largest bank by market cap per @WSJ, announced they're launching their first ever tokenized money market fund—MONY—on Ethereum.
The firm is seeding the fund with $100M of its own capital before opening to outside investors on Tuesday. https://t.co/xK0Qp3gFP5
— Ethereum (@ethereum) December 15, 2025