JPMorgan Debuts First Money Market Fund Tokenized on Ethereum

JPMorgan Chase & Co.’s asset management arm is launching its first ever tokenized money market fund built on Ethereum, joining a growing list of Wall Street firms pushing into blockchain-based finance.

The New-York based bank on Monday debuted the My OnChain Net Yield Fund, or MONY, a private fund supported by JPMorgan’s tokenization platform, Kinexys Digital Assets, according to a press release. MONY, open to qualified investors, allows them to earn yield while holding the token on the blockchain.

The move comes as the biggest firm on Wall Street push deeper into tokenization, which involves turning conventional assets ...