#JPMorgan #crypto #MONY
🚨 Wall Street is quietly embracing the “digital dollar” — and JP Morgan just made a big move!
On December 15, 2025, JP Morgan launched My OnChain Net Yield Fund (MONY), a tokenized money market fund on public Ethereum. The bank invested $100 million of its own funds and opened it to accredited investors.
Why is this important?
Due to the #GENIUS Act (a stablecoin law signed this year), issuers like Tether or Circle cannot pay interest to holders. All income from reserves (Treasury, etc.) remains with them.
But MONY is not a stablecoin, but a tokenized money market fund (Rule 506(c)). It invests in Treasuries and repos, and passes most of the yield to investors. Plus: fast transactions on the blockchain, subscription/withdrawal via $USDC or cash.
This is a direct blow to zero-yield stablecoins for institutional balance sheets. Corporate treasurers, funds, traders can now hold yield-bearing “cash on-chain” instead of idle USDC/USDT.
JP Morgan is not alone: BlackRock already has billions with BUIDL, Goldman and BNY Mellon are also in the game. But the choice of public Ethereum (rather than private ledgers) is a recognition: the liquidity and tools are here.
The result? Institutional capital migrates to regulated, yield-bearing tokens from banks. Stablecoins will remain for payments and #defi , but the big institutional “digital dollar” is returning to Wall Street control.
This is not the end of crypto — it is an evolution. Public rails + traditional instruments from the giants. But who will earn on spreads? Again, the same names from the pre-tokenization era.
