Which fund launched tokenized on ETH?

TLDR

JPMorgan Asset Management launched the My OnChain Net Yield Fund (MONY), a tokenized money market fund on the Ethereum blockchain.

1. It is JPMorgans first tokenized money market fund on Ethereum per a recent report. report
2. The move aligns with a broader acceleration in regulated tokenization initiatives across traditional securities. SEC no?action letter for DTC tokenization

Deep Dive

1. MONY On Ethereum

JPMorgans asset management arm rolled out the My OnChain Net Yield Fund (MONY) as a tokenized money market fund on Ethereum, marking its first tokenized MMF on the network, according to the report above. Money market funds aim to provide cash-like stability and short duration yield; putting shares on-chain allows 24/7 transfer and potentially faster settlement while keeping traditional investor protections.

For investors who operate with whitelisted wallets and KYC controls, tokenized MMF shares can slot into existing workflows while gaining programmable ownership and auditability benefits.

2. Why It Matters Now

Regulatory and market plumbing is catching up to tokenization. The SEC granted DTC a no-action letter to run a controlled tokenization service for major US securities, a signal that large-scale, compliant tokenization is moving closer to production in traditional markets. SEC no?action letter for DTC tokenization

Institutional tokenization can reduce settlement times, enable fractionalization, and improve collateral efficiency, especially for short duration instruments that already serve as cash substitutes. When issued on public chains with proper controls, these instruments can become composable with on-chain financial primitives while maintaining transfer restrictions where required.

Conclusion

The fund is JPMorgans My OnChain Net Yield Fund (MONY) on Ethereum, and it reflects the steady institutionalization of tokenized real-world assets. As regulated plumbing improves, tokenized cash and short-duration products are likely to lead adoption, with broader categories following once compliance and settlement frameworks harden.