Welcome to the US Crypto News Morning Briefing – an essential summary of the day's most important crypto developments.
Drink coffee, as Wall Street has just sent a new message that the future of crypto is becoming increasingly institutional. As JPMorgan shifts a core funding product to the chain, market watchers are wondering whether this is just an experiment or a deeper shift towards Ethereum as a financial infrastructure.
Today's crypto news: JPMorgan is moving money markets to the chain with an Ethereum-based fund
JPMorgan Chase has taken another significant step into blockchain-based finance by launching its first tokenized money market fund on the Ethereum network.
According to a WSJ report, the banking giant's $4 trillion asset management unit has launched My OnChain Net Yield Fund, or MONY. It is a private money market fund implemented on Ethereum and supported by JPMorgan's tokenization platform Kinexys Digital Assets.
The bank is investing $100 million of its own capital into the fund before opening it to outside investors, demonstrating strong internal conviction in tokenized financial products.
MONY is designed only for institutional and wealthy participants. It is open to qualified investors, including individuals with at least $5 million in investable assets, as well as institutions with at least $25 million and at least $1 million investment.
Investors receive digital tokens representing their interests in the fund, bringing traditional money market visibility to blockchain rails while maintaining familiar yield dynamics.
According to the report, JPMorgan's executives view client demand as the driving force behind the launch.
"There is tremendous interest in tokenization among clients," the report cites John Donohue, Global Liquidity Head at JPMorgan Asset Management.
He added that the company expects to be an industry leader by offering blockchain-based alternatives to traditional money market products.
The launch comes at a time when the number of tokenized assets on Wall Street is accelerating following the approval of the GENIUS law earlier this year.
Legislation established the U.S. regulatory framework for stablecoins and is viewed as a broader catalyst for wider tokenization efforts concerning funds, bonds, and real-world assets.
Since then, major financial institutions have rapidly moved to explore blockchain as a core market infrastructure rather than just peripheral experiments.
For Ethereum, JPMorgan's decision to implement MONY on its network is interpreted as a significant institutional endorsement. Fundstrat founder Tom Lee reacted to the news by calling it "optimistic for ETH."
This comment highlights how products like MONY expand Ethereum's real-world utility through transaction processing, smart contract execution, and deeper integration into global finance.
Crypto commentators have echoed this sentiment, with some arguing that Ethereum's role in the settlement layer of regulated financial products is increasingly difficult to overlook.
JPMorgan vs. BlackRock: Tokenized money market funds signify a new era in finance.
JPMorgan's move also calls for comparisons with BlackRock's tokenized money market fund, BUIDL, which, according to public blockchain data, has grown to approximately $1.83 billion in assets under management.
Like MONY, BUIDL invests in short-term U.S. Treasury bills, repurchase agreements, and cash equivalents. However, it follows a multi-chain strategy and is managed by different tokenization partners.
Together, these two funds highlight a broader trend where traditional finance (TradFi) approaches the blockchain to modernize low-risk and yield-generating products.
More broadly, analysts see tokenization as a way for traditional money market funds to remain competitive against stablecoins while unlocking new use cases such as on-chain settlement, programmability, and enhanced transferability.
JPMorgan has already experimented with tokenized deposits, private equity funds, and institutional payment tokens, indicating that MONY is part of a longer-term strategy rather than an independent pilot.
As regulatory clarity improves and institutional participation deepens, JPMorgan's Ethereum-based fund reinforces the narrative that blockchain, previously seen as niche, is gradually becoming an essential part of the modern financial operating system.
For Ethereum, this change may prove to be one of the most significant signals thus far.
Today's list
Here is a summary of other U.S. crypto news to follow today:
Russell 2000 sets new peaks, reviving the familiar Bitcoin pattern.
One critical XRP price level emerges — holding it could trigger a 9% rise.
The three biggest price predictions: Bitcoin, gold, and silver signify a high-stakes turning point.
What does the message of the stock-crypto investors division mean for the future?
Base creator Jesse Pollak sparks backlash by supporting a meme token related to Soulja Boy.
Is Bitcoin losing its shine? Still, history shows that the price can still rise.
The yuan is at a 14-month high as the Fed, BOJ, and PBOC diverge — crypto impact.
Coinbase CLO Paul Grewal: The NYT's SEC crypto story doesn't admit anything inappropriate — so why the headline?
Preview of crypto equities
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Open competition in the crypto equity market: Google Finance
