JPMorgan Asset Management has filed with the U.S. Securities and Exchange Commission to launch a second tokenized money market fund on the Ethereum network, accelerating Wall Street’s push to bring traditional finance instruments onchain.
Kinexys Powers the Onchain InfrastructureUnder the hood, the fund invests entirely in short-term U.S. Treasury securities and fully collateralized overnight repurchase agreements, the same conservative assets that anchor conventional money market funds.
The Institutional Race Heats UpJPMorgan is not alone, as Blackrock’s BUIDL fund, the tokenized Treasury product launched on Ethereum in 2024. It had already crossed $2.8 billion in assets under management as of early 2026, making it the largest tokenized fund by AUM. Similarly, Franklin Templeton’s FOBXX offering operates across Stellar and Polygon, while Ondo Finance’s OUSG product offers tokenized T-bills to retail-eligible investors.
Looking ahead, JLTXX still requires SEC approval before investors can access it. The fund will initially target institutional buyers, consistent with how MONY was rolled out but will likely remain out of reach for retail investors.
