JPMorgan has launched a tokenized money market fund on Ethereum, accelerating Wall Street's on-chain layout! The $4 trillion asset management giant JPMorgan officially launched the "My OnChain Net Yield Fund (MONY)", with an initial seed capital of $100 million, open this week to qualified investors (minimum $1 million). MONY operates on Ethereum, holding short-term debt instruments, paying interest daily, supporting cash or USDC redemption shares, providing traditional money fund returns + blockchain 24/7 settlement and real-time ownership advantages. Executives stated that customer demand for tokenization is strong, and MONY is an experiment to expand the on-chain product series, collaborating with clients to create a diverse range of options. The tokenized money fund has grown from $3 billion to $9 billion in one year, and the broader tokenized asset market is expected to reach $18.9 trillion by 2033. BlackRock's BUIDL has already raised $2 billion, Franklin Templeton's BENJI is leading the way, and Wall Street giants are collectively entering the scene as the era of on-chain finance arrives!
