JPMorgan will launch a second tokenized money market fund on Ethereum
JPMorgan Chase will launch its second tokenized money market fund based on Ethereum, named OnChain Liquidity-Token Money Market Fund, with the code JLTXX. The fund will primarily invest in U.S. Treasury securities, as well as overnight repurchase agreements collateralized by U.S. Treasury securities or cash, aiming to meet the qualified reserve asset requirements that stablecoin issuers need to maintain under the GENIUS Act.JPMorgan Chase stated that the blockchain technology for the fund will be managed by its subsidiary Kinexys Digital Assets. Currently, Ethereum is the only on-chain network available to investors, and future expansion to other blockchains is not ruled out. This is also JPMorgan Chase's second tokenized money market fund on Ethereum following the launch of MONY last year. Compared to MONY, which is more focused on institutional on-chain cash management, JLTXX is more directly aimed at the stablecoin reserve asset scenario.
