JPMorgan Files Tokenized Treasury Fund on Ethereum
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- JPMorgan filed an SEC registration to launch a tokenized U.S. Treasury money‑market fund on Ethereum, named JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX).
- JPMorgan OnChain Liquidity-Token Money Market Fund will hold short‑term U.S. Treasuries, cash and overnight repo agreements, issuing blockchain‑based token balances to approved investors.
- Kinexys Digital Assets, JPMorgan’s blockchain unit (formerly Onyx), will run the Ethereum infrastructure for the fund.
- GENIUS Act reserve‑asset requirements drive the fund’s structure, targeting stablecoin issuers seeking compliant Treasury exposure.
- BlackRock filed similar paperwork days earlier for a tokenized Treasury reserve vehicle and blockchain shares of a $7 billion money‑market fund, underscoring the tokenization race.
Why it matters: Stablecoin issuers gain a compliant Treasury yield source, while traditional money‑market competition intensifies; JPMorgan’s fund could capture a share of the $32 billion tokenized asset market, pushing banks to embed blockchain infrastructure.
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