JPMorgan to launch a second tokenized money market fund on Ethereum
Odaily reports that JPMorgan will launch its second Ethereum-based tokenized money market fund, named OnChain Liquidity-Token Money Market Fund, with the code JLTXX.
This fund will primarily invest in U.S. Treasury bonds, as well as overnight repurchase agreements collateralized by U.S. Treasury bonds or cash. Its aim is to meet the qualified reserve asset requirements for stablecoin issuers under the GENIUS Act.
JPMorgan stated that the fund’s blockchain technology will be managed by its subsidiary Kinexys Digital Assets. Currently, Ethereum is the only on-chain network available to investors, but expansion to other blockchains in the future is not ruled out.
This marks JPMorgan's second tokenized money market fund on Ethereum after launching MONY last year. Compared to MONY, which focuses on on-chain cash management for institutions, JLTXX is aimed more directly at stablecoin reserve asset scenarios.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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