Jpmorgan Just Filed To Put U.S. Treasuries On Ethereum

JPMorgan Asset Management has filed with the U.S. Securities and Exchange Commission to launch a second tokenized money market fund on Ethereum ($ETH), extending the bank's push to bring traditional fixed-income products onto public blockchain rails.

The fund, called the JPMorgan OnChain Liquidity Token Money Market Fund, would trade under the ticker JLTXX. JLTXX would invest exclusively in U.S. Treasury bills, bonds and notes, as well as overnight repurchase agreements fully collateralized by U.S. Treasuries or cash. The fund aims to maintain a $1 net asset value and only invest in U.S. dollar-denominated securities.

Kinexys Powers the On-Chain Infrastructure

The fund will be powered by JPMorgan's Kinexys Digital Assets unit. According to the filing, Ethereum is currently the only available blockchain for use by investors, although expansion to other blockchains is anticipated in the future. As a registered security, shares of the money market fund will be transfer restricted, with only pre-approved addresses on the allow list authorized to purchase, redeem or transfer token balances.

JPMorgan is launching the fund in a structure designed to satisfy the reserve requirements stablecoin issuers are required to maintain in the U.S. as part of the GENIUS Act. Under the GENIUS Act, U.S.-compliant stablecoin issuers will be required to back their tokens with highly liquid assets such as U.S. Treasuries, cash and insured bank deposits. That positioning could make JLTXX relevant to companies issuing dollar-backed stablecoins under U.S. rules.

Building on the MONY Blueprint

JPMorgan Asset Management launched its first tokenized money market fund, My OnChain Net Yield Fund (MONY), on the public Ethereum blockchain in December 2025. MONY launched with an initial $100 million investment. MONY was more geared toward institutional investors seeking on-chain cash management products.

The SEC filing for JLTXX becomes effective May 13, though JPMorgan did not disclose a launch date for the fund. The move reflects a broader institutional race to tokenize real-world assets. The tokenized real-world asset market has grown more than 200% over the past year and now exceeds $32 billion, according to rwa.xyz data.

Sources:
The Block: JPMorgan launching second tokenized money market fund on Ethereum
J.P. Morgan Asset Management: Official MONY Launch Press Release
CoinDesk: JPMorgan Files to Launch New Tokenized Fund