JPMorgan Files for 2nd Ethereum Tokenized Money Market Fund

JPMorgan Chase has filed with the U.S. Securities and Exchange Commission to launch its second tokenized money market fund on the Ethereum blockchain, positioning the product to meet reserve requirements for stablecoin issuers under the GENIUS Act.

The fund, named the JPMorgan OnChain LiquidityToken Money Market Fund and trading under the ticker JLTXX, will invest exclusively in short-term U.S. Treasurys and overnight repurchase agreements backed by Treasurys or cash. According to the SEC filing, the fund is structured to hold highly liquid assets suitable for stablecoin reserves, enabling issuers to support redemptions and maintain stability during market stress. The filing is set to become effective on May 13, though no specific launch date was disclosed. Approved investors will be able to purchase, redeem and transfer shares via Ethereum, with blockchain-based tokens linked to ownership records.

Kinexys Digital Assets, JPMorgan's blockchain unit formerly known as Onyx, will manage the underlying infrastructure. The filing specifies Ethereum as the initial network, with plans for potential expansion to other blockchains. It also lists blockchain-related risks, including...