Svmuu reported that JPMorgan Chase will launch its second tokenized money market fund on Ethereum, named the OnChain Liquidity-Token Money Market Fund, with the ticker JLTXX.
The fund will primarily invest in U.S. Treasuries and overnight repurchase agreements collateralized by U.S. Treasuries or cash, aiming to meet the qualified reserve asset requirements that stablecoin issuers need to maintain under the GENIUS Act.
JPMorgan stated that the fund's blockchain technology will be managed by its subsidiary, Kinexys Digital Assets. Currently, Ethereum is the only on-chain network available to investors, but expansion to other blockchains is not ruled out in the future.
This marks JPMorgan's second tokenized money market fund on Ethereum, following the launch of MONY last year. In contrast to MONY, which is more focused on institutional on-chain cash management, JLTXX is more directly tailored for stablecoin reserve asset scenarios.