JPMorgan has launched the first tokenized money market fund on Ethereum.

JPMorgan Chase has launched the My OnChain Net Yield Fund (MONY), the first tokenized money market fund on the Ethereum platform. The fund is initiated with an initial investment of 100 million dollars.

This move stands out as part of the increasing popularity of blockchain-based financial products. Major financial institutions such as BlackRock and Franklin Templeton have also entered this space.

MONY offers investors the option to purchase shares using cash or USDC. The fund provides advantages similar to traditional money market funds while also attracting attention with the additional benefits offered by blockchain technology.