Seizing the stablecoin reserve opportunity! JPMorgan to launch its 2nd "tokenized money market fund" on Ethereum

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Traditional financial giants are making another move in embracing blockchain! According to filing documents revealed on Tuesday, Wall Street investment bank JPMorgan Chase is preparing to launch a new "tokenized money market fund" on Ethereum, targeting the massive asset reserve demand from stablecoin issuers following the implementation of the U.S. GENIUS Act. The filing indicates that this new product, named "OnChain Liquidity-Token Money Market Fund" (ticker symbol: JLTXX), primarily invests in U.S. Treasury bills and overnight repurchase agreements collateralized by U.S. Treasuries or cash. On the technical side, the blockchain technology used by this fund will be managed by Kinexys Digital Assets, JPMorgan Chase's digital assets division. JPMorgan Chase also emphasized in the document: "Ethereum is currently the only blockchain network available to investors, but we anticipate expanding to other blockchain ecosystems in the future." This filing submitted to the SEC officially became effective on May 13, though the official launch date for the fund has not yet been announced. In fact, JLTXX is the second tokenized money market fund issued by JPMorgan Chase on Ethereum. As early as the end of last year, JPMorgan Chase launched a fund named MONY to test the waters, though that product was positioned more toward meeting institutional needs for "on-chain cash management." This move also reflects the intensifying competition in the traditional banking industry. Last month, Morgan Stanley also launched a money market fund targeting stablecoin reserves, though it does not run directly on a blockchain. In the tokenized fund space, the BENJI fund issued by asset management giant Franklin Templeton remains a formidable competitor that cannot be ignored. The launch of JLTXX is no coincidence; it is precisely aligned with regulatory changes in the U.S. According to the GENIUS Act passed last year, U.S.-compliant stablecoin issuers will be required to hold highly liquid assets as reserves, including U.S. Treasuries, cash, and insured bank deposits. According to statistics from RWA.xyz, as of May 12, the global "Real World Asset (RWA) tokenization" market has rapidly expanded to $32.2 billion, with tokenized U.S. Treasury products accounting for the largest share at $15.9 billion.

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Published:2026-05-13 06:23:57

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