JPMorgan Files For Ethereum Tokenized Money Market Fund After BlackRock
Ethereum JPMorgan Files For Ethereum Tokenized Money Market Fund After BlackRock JPMorgan Chase & Co. is ramping up its blockchain-related initiatives. It aims to introduce a new tokenized fixed-income money market instrument. JPMorgan Moves To Launch Another Tokenized Fund The banking giant filed paperwork for the JPMorgan OnChain Liquidity-Token Money Market Fund, under the ticker JLTXX. The proposed fund is to issue digital tokens on the Ethereum blockchain. It would represent ownership of an underlying portfolio comprised of U.S. Treasuries and repurchase agreements, per an SEC filing. Recently, JPMorgan is expanding its crypto-related product line as banks like Morgan Stanley entered the market with its Bitcoin ETF. The tokenized shares would be tradable between investors via digital wallets, and could also be utilized as security in crypto markets. The deals involving the fund may be settled in minutes, not the one or two business days normally required for traditional fund shares. Even though its based on the blockchain, the assets themselves would still be held by a traditional custodian. “JPMorgan filed for a tokenized money market fund. Big deal bc JPM inching further into crypto and big deal bc fee is pretty low 16bps for a stable NAV (imposs to do in ETF). Cheaper than most money









