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JPMorgan to Roll Out Second Ethereum-Based Tokenized Money Market Fund, JLTXX

JPMorgan is set to launch its second Ethereum-based tokenized money market fund, the OnChain LiquidityToken Money Market Fund (ticker: JLTXX), according to Odaily Planet Daily. The fund will mainly invest in U.S. Treasury securities and overnight repurchase agreements backed by U.S. Treasuries or cash. JPMorgan said the product is designed to help stablecoin issuers satisfy qualified reserve asset requirements under the GENIUS Act. The fund's blockchain infrastructure will be operated by Kinexys Digital Assets, a JPMorgan subsidiary. For now, Ethereum is the only network available to investors, though the bank said it is not ruling out support for additional blockchains in the future. JLTXX marks JPMorgan Chase's second tokenized money market fund on Ethereum after last year's MONY. While MONY is positioned for institutional on-chain cash management, JLTXX is aimed more squarely at stablecoin reserve asset use cases.
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