J.P. Morgan Asset Management Launches Its First Tokenized Money Market Fund

Rhea-AI Summary

J.P. Morgan Asset Management (NYSE:JPM) launched its first tokenized money market fund, My OnChain Net Yield Fund (MONY), on Dec 15, 2025. MONY is a 506(c) private placement for qualified investors and is issued on the public Ethereum blockchain via Kinexys Digital Assets.

MONY invests only in U.S. Treasury securities and repurchase agreements fully collateralized by U.S. Treasuries, offers daily dividend reinvestment, and allows subscription and redemptions in cash or stablecoins through the Morgan Money platform. J.P. Morgan described Morgan Money as the distribution channel and the firm noted it is the largest GSIB to launch a tokenized money market fund. The fund token address is 0x6a7c6aa2b8b8a6A891dE552bDEFFa87c3F53bD46.

Positive

• Launch date Dec 15, 2025
• Issued on public Ethereum blockchain
• Allows subscription/redemption in cash or stablecoins
• Offers daily dividend reinvestment
• Distributed via Morgan Money platform

Negative

• 506(c) private placement limits to qualified investors
• Access is exclusive to the Morgan Money platform
• Fund invests only in U.S. Treasury-backed instruments

News Market Reaction

+0.47%

1 alert

+0.47% News Effect

On the day this news was published, JPM gained 0.47%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Offering type: 506(c) private placement Current price: $318.52 Total assets: $4.6 trillion +5 more

8 metrics

Offering type 506(c) private placement Structure of MONY tokenized money market fund

Current price $318.52 JPM spot price before MONY news

Total assets $4.6 trillion JPMorgan Chase assets as of Sept 30, 2025

Stockholders’ equity $360 billion Equity as of Sept 30, 2025

Alternatives platform $600 billion Size of alternatives platform as of Sept 30, 2025

Firm AUM $4.0 trillion Assets under management as of Sept 30, 2025

Strategic Investment Group $10 billion Capital for Strategic Investment Group within SRI

Security & Resiliency Initiative $1.5 trillion Size of Security and Resiliency Initiative

Market Reality Check

Price: $305.89 Vol: Volume 8,415,992 is sligh...

normal vol

$305.89 Last Close

Volume Volume 8,415,992 is slightly below the 20-day average of 9,300,109 (relative volume 0.9x). normal

Technical Price at 318.52 is trading above the 200-day MA of 280.76 and within 1.16% of the 52-week high 322.25.

Peers on Argus

Peers showed mixed moves: BAC up 0.66%, while WFC, HSBC, RY, and C declined betw...

Peers showed mixed moves: BAC up 0.66%, while WFC, HSBC, RY, and C declined between -0.39% and -1.32%, indicating JPM’s slight gain of 0.36% was more stock-specific than sector-wide.

Historical Context

5 past events · Latest: Dec 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 11	Blockchain debt issuance	Positive	+2.3%	On-chain U.S. commercial paper issuance on Solana using USDC settlement.
Dec 11	ETF product launch	Positive	+2.3%	Launch of 100% U.S. Treasury Securities Money Market ETF (JMMF).
Dec 09	Dividend announcement	Positive	+3.2%	Quarterly common stock dividend with large asset and equity base.
Dec 09	Alternatives outlook	Positive	-4.7%	Global Alternatives Outlook highlighting private markets and AI-related opportunities.
Dec 08	Strategic initiative	Positive	+0.1%	New $10B Strategic Investment Group within $1.5T Security and Resiliency Initiative.

Pattern Detected

Recent product and strategic announcements generally coincided with positive 24-hour moves, with one notable negative reaction to a broad alternatives outlook.

Recent Company History

Over the past week, JPM released several strategically important updates. On Dec 8–9, 2025, it announced a new $10 billion Strategic Investment Group within its $1.5 trillion Security and Resiliency Initiative, a common stock dividend, and a $600 billion alternatives platform within a firm AUM of $4.0 trillion. On Dec 11, JPM launched a U.S. Treasury money market ETF and arranged a commercial paper issuance on Solana. Today’s tokenized money market fund continues this sequence of blockchain- and liquidity-focused product innovation.

Market Pulse Summary

This announcement highlights JPM’s launch of MONY, a tokenized money market fund on the public Ether...

Analysis

This announcement highlights JPM’s launch of MONY, a tokenized money market fund on the public Ethereum blockchain, available to qualified investors via its Morgan Money platform. It extends a recent series of product and blockchain-related initiatives, alongside large-scale efforts such as the $1.5 trillion Security and Resiliency Initiative and a $600 billion alternatives platform. Investors may track adoption of MONY, usage of on-chain liquidity solutions, and further digital-asset product developments.

Key Terms

tokenized money market fund, private placement, public blockchain, stablecoins, +4 more

8 terms

tokenized money market fund financial

"announced the launch of its first tokenized money market fund, My OnChain Net Yield Fund"

A tokenized money market fund is a traditional short-term, low-risk investment vehicle whose ownership shares are represented as digital tokens on a secure electronic ledger. It matters to investors because it combines the safety and steady, short-term returns of a money market fund with faster, around-the-clock trading, easier fractional ownership and quicker settlement — like turning a conventional savings bucket into instantly tradable digital pieces—while introducing technology and custody considerations.

private placement financial

"MONY is a 506(c) private placement fund providing qualified investors"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

public blockchain technical

"now available on the public Ethereum blockchain"

A public blockchain is a shared, digital ledger that records transactions across many independent computers so anyone can read and verify the history without a single company controlling it. For investors it matters because openness and wide participation affect security, transparency, and how valuable the network’s tokens or services can become — think of it as a shared Google spreadsheet everyone can see and confirm, not edited by one person.

stablecoins financial

"subscribe and redeem using cash or stablecoins through the Morgan Money platform"

Stablecoins are a type of digital currency designed to maintain a steady value, often linked to traditional currencies like the dollar or euro. They function like digital cash that offers the convenience of online transactions while avoiding the large price swings common with other cryptocurrencies. This stability makes them useful for investors and users who want a reliable way to store and transfer value without exposure to sudden market changes.

peer-to-peer transferability technical

"tokenization provides increased transparency, peer-to-peer transferability and the potential"

Peer-to-peer transferability describes an asset or right that can be moved directly from one holder to another without needing a middleman, such as a broker or clearinghouse. For investors this matters because it affects how easily and quickly you can buy, sell or pass on the asset—similar to being able to hand a concert ticket to a friend versus having to sell it through a ticketing service—impacting liquidity, costs and market access.

GSIB financial

"J.P. Morgan is the largest GSIB (global systemically important bank) to launch"

A GSIB is a bank designated as so large and interconnected that its failure could threaten the global financial system. Think of it like a city’s main bridge: because many others rely on it, regulators require stronger safeguards, higher capital buffers and detailed plans for orderly failure, which matters to investors because those rules affect the bank’s costs, risk profile, dividend capacity and perceived safety.

on-chain assets technical

"Qualified investors gain access to on-chain assets through Morgan Money"

On-chain assets are digital items—such as tokens, stablecoins, or unique digital collectibles—whose ownership and transaction history are recorded directly on a blockchain, a shared digital ledger that anyone can verify. They matter to investors because the record makes ownership, transfer rules and supply transparent and automatic (like a public spreadsheet that enforces its own rules), which can lower middleman costs and speed trading but also creates unique risks from software bugs, custody and changing regulation.

repurchase agreements financial

"and repurchase agreements fully collateralized by U.S. Treasury securities"

A repurchase agreement is a short-term loan where one party sells a security and promises to buy it back shortly after at a slightly higher price, effectively using the security as collateral. Investors care because these deals lubricate the plumbing of money markets—keeping cash flowing, helping set short-term interest rates, and affecting borrowing costs and liquidity that can influence asset prices and market stability.

AI-generated analysis. Not financial advice.

Qualified investors gain access to on-chain assets through Morgan Money®

NEW YORK, Dec. 15, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today announced the launch of its first tokenized money market fund, My OnChain Net Yield Fund ("MONY"), now available on the public Ethereum blockchain. Powered by Kinexys Digital Assets, the firm's industry-leading, multi-chain asset tokenization solution, MONY is a 506(c) private placement fund providing qualified investors the opportunity to earn U.S. dollar yields by subscribing through Morgan Money®, the firm's open architecture trading and analytics platform for liquidity management. Morgan Money is the first institutional liquidity trading platform to integrate traditional and on-chain assets offering investors access to a full-range of money market products.

J.P. Morgan is the largest GSIB (global systemically important bank) to launch a tokenized money market fund on a public blockchain. Qualified investors can access MONY exclusively through the Morgan Money platform, receiving tokens at their blockchain addresses. MONY invests only in traditional U.S. Treasury securities, and repurchase agreements fully collateralized by U.S. Treasury securities, allowing qualified investors to earn yield while holding the token on the blockchain. It offers daily dividend reinvestment and investors will be able to subscribe and redeem using cash or stablecoins through the Morgan Money platform. The fund's tokenization provides increased transparency, peer-to-peer transferability and the potential for broader collateral usage within the blockchain ecosystem.

"Active management and innovation are at the heart of how we deliver new solutions for investors navigating today's financial landscape," said George Gatch, CEO of J.P. Morgan Asset Management. "By harnessing technology alongside our deep expertise in active management, we're able to provide clients with advanced, innovative, and cost-effective capabilities that help them achieve their investment goals."

Money market funds have historically played an important role in portfolios, providing investors liquidity, stability, and yield. The launch of MONY reflects the industry's growing shift toward tokenization of assets on public networks. As demand for tokenized assets grows, tokenized money market funds can help meet investor needs while introducing new features enabled by blockchain technology.

"We are excited to be a first mover with the launch of MONY, and we expect other GSIB banks to follow our lead in providing clients with greater optionality in how they invest in money market funds," said John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management. "With Morgan Money, tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products. This marks a significant step forward in how assets will be traded in the future, and we're excited about the opportunities this creates for our clients and for the whole industry."

To learn more, please visit our dedicated website. The MONY blockchain token address is 0x6a7c6aa2b8b8a6A891dE552bDEFFa87c3F53bD46.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $4 trillion (as of 9/30/2025), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: www.jpmorgan.com/am.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.6 trillion in assets and $360 billion in stockholders' equity as of September 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About Morgan Money
Morgan Money is J.P. Morgan Asset Management's institutional investing platform. A multi-currency, open architecture trading and risk management system, the platform is designed to deliver a seamless customer experience, centered on operational efficiency, end-to-end system integration, and effective controls to allow customers to invest when, where and how they want — securely. Its intuitive platform allows customers to view aggregated account information across their entire portfolio, conduct in-depth risk analysis, model potential trades and compare available investment options. This platform is designed for clients, by clients — embedding their needs and priorities into its core capabilities. Additional information is available at https://www.morganmoney.io/.

My OnChain Net Yield Fund ("MONY")

FOR QUALIFIED INVESTORS ONLY. This fund is intended for investors who qualify to invest in private placement funds. Generally, they would include investors who are "Qualified Purchasers" as described in the Investment Company Act of 1940, as amended, and "Accredited Investors" as defined in the Securities Act of 1933, as amended.

Blockchain technology is a relatively new and untested technology that operates as a distributed ledger. There are risks associated with the Fund's use of blockchain technology in the manner described herein. Before investing, please read carefully the Private Placement Memorandum, including for a complete list of potential risks.

J.P. Morgan Institutional Investments, Inc., member FINRA; placement agent

 

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SOURCE J.P. Morgan Asset Management

FAQ

What is MONY from J.P. Morgan (JPM) and when did it launch?

MONY is J.P. Morgan Asset Management's tokenized money market fund; it launched on Dec 15, 2025.

Who can invest in MONY (JPM) and how is it offered?

MONY is a 506(c) private placement available only to qualified investors and is accessed exclusively via the Morgan Money platform.

What assets does MONY (JPM) hold and how are dividends handled?

MONY invests only in U.S. Treasury securities and fully collateralized repos, and it offers daily dividend reinvestment.

Can investors use stablecoins to subscribe or redeem MONY (JPM)?

Yes. Investors can subscribe and redeem using cash or stablecoins through the Morgan Money platform.

On which blockchain is MONY (JPM) issued and what is the token address?

MONY is issued on the public Ethereum blockchain; the token address is 0x6a7c6aa2b8b8a6A891dE552bDEFFa87c3F53bD46.

Does MONY (JPM) enable peer-to-peer transfers or broader blockchain collateral use?

The tokenization provides increased transparency, peer-to-peer transferability, and potential broader collateral usage within the blockchain ecosystem.