JPMorgan is setting up a $100 million tokenized money market fund on Ethereum, expanding its Kinexys platform from private chains to public blockchains for institutional cash management.
Summary
- JPMorgan’s new tokenized money market fund on Ethereum is stacked with $100 million in internal capital and targets institutional treasury clients looking for onchain cash instruments.
- The fund builds on Kinexys and follows the JPM Coin and JPMD deposit tokens on Base, plus a recent $50 million tokenized commercial paper deal on Solana.
- Tokenized money market funds have doubled their assets from approximately $4 billion to $8.6 billion by 2025, underscoring the growing institutional adoption of public blockchains.
JPMorgan Chase & Co. has launched its first tokenized money market fund on the public Ethereum blockchain, the bank announced. This marks an expansion in major financial institutions’ use of public blockchain networks for regulated financial products.
JPMorgan Chase & Co. initiates tokenized money market fund
The fund went live on December 15, 2025 and had $100 million in internal capital, according to the announcement. The product is designed for institutional clients seeking exposure to the money market through a blockchain-based infrastructure.
The fund operates on the main Ethereum (ETH) network, allowing continuous access and near real-time settlement, compared to legacy systems that often take several days to process transactions, the bank said. The structure is intended to improve liquidity management and operational efficiency for institutions using short-term monetary instruments.
The launch builds on JPMorgan’s blockchain development under its Kinexys platform, which previously focused on permissioned distributed ledger technology. Previous initiatives include the JPMD USD deposit token launched on Coinbase’s Layer 2 network, Base. The Ethereum-based money market fund represents a shift to public blockchain infrastructure for the bank’s regulated financial products.
JPMorgan has positioned deposit-based tokenized products as an alternative to stablecoins for institutional clients, citing the ability to offer yield-bearing instruments within regulated banking frameworks. The bank stated that it plans to expand access to the fund over time and introduce additional currencies, subject to regulatory approval.
The launch follows a $50 million commercial paper issuance that JPMorgan executed on Solana’s public blockchain last week, according to reports. The timing coincides with the industry-wide growth of tokenized money market funds, which has grown from $4 billion in assets under management in early 2025 to $8.6 billion in November, according to industry data.
The deployment of a money market fund on Ethereum’s public network signals growing institutional adoption of public blockchains as infrastructure for global capital markets, industry observers noted.
