- JPMorgan recently filed for its second tokenized money market fund, JLTXX.
- The investment instrument also runs under the bank’s Kinexys platform.
Fresh from JPMorgan’s recent announcement that it will integrate blockchain into parts of the $13 trillion repo market, it has filed with regulators to launch a new tokenized money market fund (MMF). On Wednesday, the leading global financial services provider and largest bank in the US submitted a prospectus for the JPMorgan Money Market Funds with the ticker JLTXX.
What is a Money Market Fund
A money market fund (MMF) is a low-risk, mutual fund. It invests in high-quality, short-term debt instruments, such as government securities and corporate commercial paper.
The funds offer high liquidity, targeting a stable $1 per share value. Additionally, the asset allows investors to optimize their idle capital through access to income higher than traditional savings accounts.
Key Features of the Tokenized Money Market Fund From JPMorgan
According to the document, the tokenized MMFs offer investors digital access to liquid, yield-bearing assets. It expands the benefits of traditional MMFs to include the efficiency of distributed ledger technology (DLT). The on-chain integration of these investment instruments unlocks near-instantaneous settlement finality, round-the-clock account visibility, and the ability to use these tokens as high-quality collateral across various decentralized finance (DeFi) and traditional finance (TradFi) applications.
“The tokenization of money market funds represents a significant milestone in the ongoing transformation of global financial markets,” said JPMorgan. “By leveraging blockchain and distributed ledger technology, tokenized MMFs offer the potential for faster settlement, enhanced transparency, improved portability, and more efficient collateral management.”
Blockchain Platform Used
Kinexys Digital Assets, the bank’s business unit, is responsible for deploying and maintaining the blockchain technology powering JLTXX. Beyond fund tokenization, the same entity also serves as the institution’s tokenization platform for intraday repo and tokenized collateral.
Kinexys currently holds $101.38 million in distributed asset value. Meanwhile, it is underpinned by the Ethereum (ETH) chain.
Only My OnChain Net Yield Fund (MONY) runs on the platform, which JPMorgan launched in December 2025 under a $100 million seed. The product is the bank’s first tokenized MMF, with a 0.16% management fee and a circulating token supply of 101.38 million.
The move marks JPMorgan’s greater push into the mainstream of regulated digital finance. It specifically targets the stablecoin and the $706.3 billion real-world asset (RWA) ecosystem. JTXX stands out from its predecessor because Knexys has meticulously structured it to align with the GENIUS Act’s requirements for an eligible reserve asset.
JTXX competes directly with BlackRock’s BUIDL and Franklin Templeton’s BENJI.
