J.P. Morgan Onyx and Apollo Test Tokenized Portfolios on Avalanche Evergreen

On May 11, 2026, J.P. Morgan’s Onyx Digital Assets unit and Apollo Global launched a proof-of-concept for automated, blockchain-based portfolio management on Avalanche’s Evergreen subnet. The firms estimated tokenising alternative assets could create a $400 billion revenue opportunity, with WisdomTree providing a tokenised fund-access layer. After the announcement, AVAX rose 26% over 24 hours and hit an intraday high of $22.69.