Wall Street Meets Ethereum: JPMorgan Launches Tokenized Fund💥
JPMorgan has launched the My OnChain Net Yield Fund (MONY), issuing fund shares on the #ETH chain, allowing qualified investors to directly hold low-risk assets in the form of digital tokens, such as U.S. Treasuries and repurchase agreements.💰
With an initial investment of $100 million, this shows the institution's emphasis on on-chain cash management products. Participants must have assets of over $5 million (individuals) or over $25 million (institutions), with a minimum subscription of $1 million.
📊 This initiative marks Wall Street's testing of new models for on-chain settlement, transparency, and liquidity. Simply put, it's about moving traditional funds onto Ethereum, allowing institutional investors' cash management to embrace blockchain.
ETH is currently priced at around $3,002, and the tokenization experiment of MONY could become a new trend in asset management.🚀
