Overview
- Named My OnChain Net Yield Fund (MONY), the vehicle opened to external investors on December 16 after a $100 million seed from J.P. Morgan Asset Management.
- Eligibility is limited to qualified investors, with a $1 million minimum, individuals requiring at least $5 million in investable assets, and institutions at least $25 million.
- Investors subscribe and redeem through Morgan Money and receive tokenized shares to blockchain wallets, with support for either cash or Circle’s USDC.
- Structured like a traditional money-market fund, MONY invests in U.S. Treasury securities and Treasury-backed repurchase agreements and pays interest daily.
- JPMorgan’s move joins launches by major asset managers as tokenized money-market assets grow toward $9 billion in 2025, supported by new U.S. stablecoin rules under the GENIUS Act; executives cite strong client demand for tokenization.