Overview
- JPMorgan seeded the My OnChain Net Yield Fund (MONY) with $100 million and began offering access on Dec. 15, with external investors able to subscribe starting Dec. 16.
- Built on the bank’s Kinexys platform and deployed to Ethereum, the fund records ownership as tokens delivered to investor wallets and accrues dividends daily.
- Subscriptions and redemptions are available in cash or Circle’s USDC, with a $1 million minimum; individuals must have at least $5 million in investable assets and institutions at least $25 million.
- The portfolio mirrors traditional money-market funds by investing in U.S. Treasuries and Treasury-collateralized repurchase agreements, targeting regulated, low‑volatility cash management.
- JPMorgan joins BlackRock and Franklin Templeton in a fast-growing on-chain MMF market nearing $9 billion in 2025, supported by new U.S. stablecoin rules and the bank’s broader multi-chain push, including recent activity on Solana and Base.