The new fund will invest solely in U.S. Treasurys and repo agreements to meet stablecoin reserve requirements under proposed legislation.
JPMorgan has filed to launch a tokenized money market fund, JLTXX, on the Ethereum blockchain. The fund will invest exclusively in U.S. Treasury securities and overnight repurchase agreements collateralized by Treasurys or cash.
The product aims to satisfy reserve asset requirements for stablecoin issuers under the proposed GENIUS Act. JPMorgan previously introduced its first tokenized money market fund, MONY, on Ethereum in 2023.
No immediate market reaction was reported following the filing announcement.