JLTXX, JPMorgan’s on-chain money market fund backed by U.S. Treasuries, has doubled its seed capital and held its $1.00 peg since launching on Ethereum six days ago.
Just six days after its May 13 debut, JPMorgan OnChain Liquidity-Token Money Market Fund traded under JLTXX ticker has already doubled its initially reported capital base. Per corporate data, the tokenized money market fund has amassed $200.09 million in assets on the Ethereum blockchain.
The fund launched this May is JPMorgan’s second tokenized money market vehicle on Ethereum. JLTXX closely followed the 2025 debut of the bank’s MONY fund for qualified institutional investors. While MONY targeted a narrow market niche, JLTXX is explicitly designed to serve a broader clientele. For once, it cound be means of reserve backings for stablecoin issuers seeking compliant, yield-bearing Treasury exposure ahead of the GENIUS Act’s requirements taking effect.
Early check of the metrics that matter most for a government money market fund shows positive dynamics. The net asset value has held at exactly $1.00 since inception, a picture of stability money market product promises. Weekly liquid assets stand at 99.98%, meaning investors can redeem nearly the entire fund overnight if needed. The daily yield of 3.43% reflects current short-term Treasury rates, consistent with the fund’s mandate to invest exclusively in U.S. Treasury bills, notes, bonds, and overnight repurchase agreements.
As for other financial specs of the proposed investment instrument, the JLTXX weighted average maturity sits at 19 days and the weighted average life at 27 days, reflecting a conservative, highly liquid portfolio construction typical of government asset-backed money market funds.
The fund operates through JPMorgan’s Kinexys Digital Assets platform, a name that may seem unfamiliar as it has recently rebranded from Onyx. The platform allows tokenized shares to be transferred and settled on-chain. Importantly, custody and ownership records remain within traditional regulated frameworks.
The $200 million figure for the fund assets is surely notable as well as its growth tempo, though, it is still modest against the broader tokenized Treasury market, which has recently crossed $37 billion mark.
