J.P. Morgan Launches $100 Million JLTXX Tokenized Fund on Ethereum
Updated
Updated · PR Newswire · May 13
J.P. Morgan Launches $100 Million JLTXX Tokenized Fund on Ethereum
14 articles · Updated · PR Newswire · May 13
$100 million of seed capital will back JLTXX, J.P. Morgan Asset Management’s second tokenized money market fund for U.S. investors and its latest product on the public Ethereum blockchain.
JLTXX is a registered government money market fund that holds only U.S. Treasuries and overnight Treasury-backed repos, aiming to give investors on-chain token balances while earning short-term yield.
Qualified investors can subscribe through Morgan Money and redeem using cash or stablecoins via a third-party vendor; Anchorage Digital is also participating at launch.
The fund is positioned to support stablecoin issuers under the GENIUS Act and expands J.P. Morgan’s tokenized liquidity lineup after last year’s private-placement MONY fund.
J.P. Morgan said tokenized traditional assets on public blockchains now total about $30 billion, with on-chain product assets nearly tripling since early 2024.
JPMorgan's new token pays yield while stablecoins cannot. Is this innovation or a clever regulatory workaround?
With tokenized assets projected to hit $13 trillion, can regulators keep pace with the new systemic risks being created?
As big banks move onto public blockchains, is the original vision of open, decentralized finance at risk?
J.P. Morgan Launches JLTXX: Second Tokenized Money Market Fund on Ethereum as Tokenized Asset Market Surges Past $20 Billion
Overview
J.P. Morgan Asset Management has launched its second tokenized money market fund, JLTXX, on the public Ethereum blockchain, building on its earlier MONY fund. This move highlights J.P. Morgan’s commitment to integrating blockchain technology into traditional finance, offering institutional investors a modern way to manage liquidity. JLTXX brings established money market products onto blockchain networks, providing more options in a rapidly changing financial landscape. By leveraging Ethereum, J.P. Morgan aims to enhance efficiency and transparency, reflecting a broader strategy to update liquidity management without changing the core nature of investments.