JPMorgan just filed for its second tokenized fund on Ethereum. Wall Street’s blockchain moment is no longer theoretical.
TL;DR
JPMorgan filed for its second tokenized money market fund on Ethereum, accelerating Wall Street’s race to build regulated financial products on blockchain infrastructure now that the Genius Act has removed the regulatory ambiguity that kept institutions on the sidelines.
JPMorgan Chase filed paperwork on Tuesday for its second tokenized money market fund, four months after becoming the largest global systemically important bank to put a fund on the Ethereum blockchain. The JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX, will issue digital tokens on Ethereum representing shares in a portfolio of US Treasuries and overnight repurchase agreements. The tokens can be held in digital wallets, transferred between investors, or posted as collateral in crypto markets, with transactions settling in minutes rather than the one to two days that conventional fund shares require.
The filing is unremarkable by the standards of traditional asset management. It is a money market fund....
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