Overview
- J.P. Morgan Asset Management launched the JPMorgan OnChain Liquidity–Token Money Market Fund, or JLTXX, on Ethereum with a $100 million investment from the firm and additional participation from Anchorage Digital.
- The fund invests only in U.S. Treasuries and overnight repurchase agreements fully backed by Treasuries or cash, seeking a stable $1 net asset value and daily dividend reinvestment.
- Investors subscribe through Morgan Money and receive token balances at approved blockchain addresses, while the transfer agent’s book-entry register remains the legal record of ownership.
- Kinexys Digital Assets powers a permissioned system on top of Ethereum that allows qualified investors to submit purchase, redemption, and transfer requests, including options to fund or receive proceeds in cash or stablecoins through a third-party vendor.
- The Token Class carries a $1 million minimum and a 0.16% net expense ratio after fee waivers through June 30, 2028, and the launch joins a broader push by BlackRock, Franklin Templeton, and Morgan Stanley as tokenized real-world assets top roughly $30–32 billion with Treasuries leading the segment.