J.P. Morgan Brings Its Two Tokenized Money Market Funds to Solana
Qualified U.S. investors can now hold the bank's MONY and JLTXX fund tokens on Solana. One of the two funds is built to hold reserves for stablecoin issuers.
By Fueled Crypto Newsroom · AI-assisted · 3 min read
J.P. Morgan Asset Management said Thursday it is expanding access to its tokenized money market funds on Solana. Qualified U.S. investors can now hold tokens for both of its on-chain funds on that network through Morgan Money, the firm's cash-management platform.
The two funds are different products with different buyers:
My OnChain Net Yield Fund (MONY) is a private fund offered under Rule 506(c). J.P. Morgan launched it in December 2025 and said at the time it was the largest global systemically important bank to put a tokenized money market fund on a public blockchain.
JPMorgan OnChain Liquidity–Token Money Market Fund (JLTXX) is a U.S.-registered government money market fund. The release says it is "designed to invest in a manner to support stablecoin issuers under the GENIUS Act," the federal stablecoin law that sets reserve rules for issuers. (Our GENIUS Act explainer covers what counts as a reserve.)
Investors subscribe and redeem on one platform, and the fund tokens land at their own blockchain addresses. "Our clients operate across more than one network, and their liquidity should too," said Paul Przybylski, J.P. Morgan Asset Management's global head of product for digital and tokenized assets. He said the move "gives stablecoin issuers and institutional investors access to the same funds, across the on-chain networks where they operate." J.P. Morgan Asset Management oversees about $4.8 trillion.
Solana's official account announced the launch:
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BREAKING: @JPMorganAM's tokenized money market funds are live on Solana.
MONY and JLTXX are both available to qualified U.S. investors through Morgan Money, with subscriptions, redemptions and token balances handled on one platform. pic.twitter.com/hZBR6Q8wHS
The fund paperwork is more useful than the press release for anyone trying to size this. As of Sept. 30, J.P. Morgan's JLTXX fact sheet lists:
JLTXX, as of Sept. 30, 2026
Inception
May 13, 2026
Fund assets
$628.48 million
Minimum investment
$1 million
Net expense ratio
0.16% (0.71% gross)
7-day SEC yield
3.79%
Holdings
U.S. Treasuries and repurchase agreements
J.P. Morgan's tokenization FAQ for MONY says the fund is domiciled in the British Virgin Islands, charges 16 basis points, also has a $1 million minimum, and has no crypto exposure. Its official books and records stay off-chain, with SS&C as transfer agent. The token is a record of a share, not the share register itself.
Crypto.news adds that the May prospectus restricts the tokens to approved, allow-listed wallets, and that the investor register, not the blockchain, decides legal ownership. It also notes that BlackRock's tokenized fund, BUIDL, came to Solana in March 2025.
Why stablecoin issuers are the audience
Under the GENIUS Act, stablecoin reserves have to sit in a short list of safe, liquid assets, and government money market funds are on that list. A fund that already holds only Treasuries and repo, and that issuers can hold as a token on the same chain where their stablecoin lives, removes a step between minting dollars on-chain and parking the cash behind them.
None of this is a retail product. Both funds require $1 million to start and are limited to qualified investors, and neither puts crypto in the portfolio.
The loan was backed by a Treasury-secured Marshall Islands bond, priced at SOFR plus 10 basis points, and renewed itself every hour, weekend included. No loan size was disclosed.
The bank is folding a custodian it helped start into its own securities-services arm. That's another sign big banks want to hold crypto themselves, though nothing changes yet for US customers.
Securitize’s collaboration with NYSE points to the next stage of tokenization: integrating onchain rails with established market institutions instead of trying to replace them. The strategic bet is that real adoption will come from operational upgrades, not ideological disruption.
