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Grab your coffee because Wall Street has just sent a new signal that the direction of crypto will increasingly become an institutional matter, and since JPMorgan has brought core financial products onto the chain, market analysts are wondering if this is just a trial or a deep shift towards Ethereum as an economic infrastructure
Today's crypto news: JPMorgan brings the money market to blockchain with a fund using Ethereum.
JPMorgan Chase has taken another significant step into finance on blockchain technology by launching the first tokenized money market fund on the Ethereum network.
According to a report from WSJ, the asset management group of this giant bank, which manages $4 trillion in assets, has launched the My OnChain Net Yield Fund or MONY. This is a private money market fund that is being utilized on Ethereum and is supported by JPMorgan's token ice platform called Kinexys Digital Assets.
The bank will inject its own capital of $100 million as seed money before opening to outside investors, which is seen as a sign of confidence in tokenized financial assets.
MONY is designed for institutional investors and high-net-worth individuals only, open to qualified investors, both individuals with at least $5 million in investable assets and institutions with a minimum of $25 million, with a minimum investment limit of $1 million.
Each investor receives digital tokens representing ownership in the fund, bringing the experience of traditional money markets onto the blockchain while still retaining the original yield generation mechanism.
According to reports, JPMorgan executives stated that client demand is a key driver behind the launch of this fund.
There is significant interest from clients regarding token ice, according to reports citing John Donohue, head of global liquidity management at JPMorgan Asset Management.
He added that the company expects to lead in this space by offering money market products on blockchain that are equivalent to traditional models.
This launch comes at a time when the token ice asset drive on Wall Street is progressing rapidly following the passage of the GENIUS Act earlier this year.
The law has established the legal framework in the United States for Stablecoin and is seen as helping drive token ice operations in funds, bonds, and real-world assets more broadly.
Since then, major financial institutions have been rushing to explore blockchain as the infrastructure of the primary market rather than just a peripheral experiment.
For Ethereum, JPMorgan's decision to implement MONY on this network is viewed as a significant institutional endorsement. Tom Lee, co-founder of Fundstrat, responded to the news by stating that it is positive for ETH.
This comment highlights that products like MONY help expand the practical benefits of Ethereum through transactional activity, running smart contracts, and deeper integration with global finance.
Crypto commentators reflect the same sentiment, with some arguing that Ethereum's role as a settlement system for regulated financial products is becoming increasingly difficult to overlook.
JPMorgan vs. BlackRock: The token money market fund opens a new era of finance.
JPMorgan's move has also led to comparisons with BlackRock's token money market fund, BUIDL, which, according to public blockchain data, has assets under management valued at approximately $1.83 billion.
Like MONY, the BUIDL fund invests in short-term US Treasuries, repurchase agreements, and cash-equivalent assets. However, this fund employs a multi-chain strategy and is managed through various tokenization partners.
Both funds thus reflect a broader trend that traditional finance (TradFi) companies are beginning to use blockchain to modernize low-yield, low-risk products.
Analysts see tokenization as a way to help traditional money market funds remain competitive with stablecoins while also opening up new usage opportunities such as on-chain settlement, programmability, and greater transferability.
JPMorgan has also experimented with token deposits, private equity funds, and payment tokens for institutions, indicating that MONY is part of a long-term strategy, not just a small pilot project.
As regulation becomes clearer and institutional involvement deepens, JPMorgan's Ethereum fund further underscores the reality that blockchain, once seen as niche, is increasingly becoming an integral part of modern financial systems.
For Ethereum, this change could become one of the most significant signals.
Daily chart.
Here is a summary of today's US crypto news to follow:
Russell 2000 reaches a new high, signaling the classic pattern of Bitcoin once again.
The key price level of XRP appears — if it maintains this level, it may bounce back by 9%.
Top 3 price predictions: Bitcoin, gold, and silver are signaling a significant turning point.
How does the conflict between stock and crypto investors indicate the future?
Jesse Pollak, creator of Base, faces criticism after supporting a memecoin linked to Soulja Boy.
Is Bitcoin losing momentum from whales? But historically, the price has still been able to rise.
Yuan hits a 14-month high, with differences between Fed–BOJ–PBOC impacting crypto.
Paul Grewal, CLO of Coinbase: NYT's crypto news with the SEC found no wrongdoing—so why is the headline like this?
Market overview before the opening of crypto stocks.
Company closing prices on December 12: Market overview before opening Strategy (MSTR) $176.45 $176.75 (+0.17%) Coinbase (COIN) $267.46 $268.40 (+0.35%) Galaxy Digital Holdings (GLXY) $26.75 $26.75 (0.00%) MARA Holdings (MARA) $11.52 $11.56 (+0.35%) Riot Platforms (RIOT) $15.30 $15.31 (+0.065%) Core Scientific (CORZ) $16.53 $16.65 (+0.73%)
The crypto stock market opening competition: Google Finance.
