J.P. Morgan Asset Management has expanded its tokenized fund footprint to Solana, launching two money market funds — MONY and JLTXX — for qualified U.S. investors through its Morgan Money platform.
The announcement marks another step by a major financial institution toward blockchain-based fund operations. According to the firm, investors can subscribe and redeem through Morgan Money, with token balances sent directly to their blockchain addresses. “Our clients operate across more than one network, and their liquidity should too,” said Paul Przybylski, global head of product, digital and tokenized assets.
MONY is a private placement fund domiciled in the British Virgin Islands with a $1 million initial investment minimum and fees of 16 basis points. It holds U.S. Treasury securities and Treasury-backed repurchase agreements and seeks a stable $1 net asset value. Official shareholder records remain offchain, with SS&C acting as transfer agent. The fund was originally seeded with $100 million in internal capital when it launched on Ethereum in December 2025 as part of JPMorgan’s Kinexys business.
JLTXX is a registered government money market fund designed to support stablecoin issuers under the GENIUS Act. Its May prospectus initially listed Ethereum as the only public network but anticipated support for other blockchains. The fund uses an allow list requiring approved wallet addresses for purchases, redemptions, and token transfers. It has a $1 million opening minimum, no minimum for subsequent purchases, and annual operating expenses of 0.16% after waivers and reimbursements through June 30, 2028. Optional services can convert USDC into dollars before purchases and redemption proceeds back into USDC; Circle is not affiliated with the fund, its adviser, or Kinexys.
The move follows similar expansions by major asset managers. BlackRock brought its BUIDL fund to Solana in March 2025, and Franklin Templeton added Solana support for its OnChain U.S. Government Money Fund in February 2025. J.P. Morgan’s launch could reinforce Solana’s position as a venue for tokenized real-world assets if institutional demand continues to grow.
