JPMorgan launching MONY fund on Ethereum blockchain, WSJ reports

JPMorgan (JPM) is launching My OnChain Net Yield Fund, or MONY, a tokenized money-market fund on the Ethereum (ETH-USD) blockchain, seeded with $100M of its own capital, The Wall Street Journal’s Vicky Ge Huang reports. The MONY fund, supported by Kinexys Digital Assets, requires a $1M minimum investment and is open to qualified investors. “There is a massive amount of interest from clients around tokenization,” said John Donohue, head of global liquidity at J.P. Morgan Asset Management. “And we expect to be a leader in this space and work with clients to make sure that we have a product lineup that allows them to have the choices that we have in traditional money-market funds on blockchain.”