JPMorgan, the largest bank in the United States, launches this Tuesday, December 15, a tokenized fund on the Ethereum network.
The name of the financial product is My OnChain Net Yield Fund (MONY) and it will be available to qualified clients of the bank, individuals with at least $5 million in investments and institutions with a minimum of $25 million.
JPMorgan will provide 100 million dollars of its own capital as an initial investmentaccording to reported.
The fund is backed by Kinexys Digital Assets, the entity’s tokenization platform, and in practice functions as a money market fund (money market).
MONY will invest in short-term debt instruments with the aim of generating daily interest, replicating the logic of these traditional products, but with a digital and tokenized structure.
Additionally, investors will have the option to withdraw your holdings in both cash and the USDC stablecoinas long as they meet a minimum investment of 1 million dollars.
With this launch, the Ethereum network continues to stand out as one of the leading players in the tokenization of real-world assets. At the moment, tokenized assets hosted in the ecosystem created by Vitalik Buterin exceed $18.61 billionas seen below:
JPMorgan’s entry into the real-world asset (RWA) tokenization industry joins other large traditional financial institutions.
As CriptoNoticias has reported, Franklin Templeton was one of the pioneers with the launch of its BENJI fund in 2021while BlackRock did the same after presenting BUIDL in 2024.