JPMorgan is launching a tokenized money market fund designed to satisfy the reserve requirements stablecoin issuers are required to maintain in the U.S. as part of the GENIUS Act, according to a filing from Tuesday.
The new fund, tokenized on the Ethereum blockchain, will invest in U.S. Treasurys and overnight repurchase agreements collateralized by Treasurys or cash, the filing said. JPMorgan is calling the fund the “OnChain Liquidity-Token Money Market Fund.”
JPMorgan said the blockchain technology used by the fund will be managed by Kinexys Digital Assets, its own business unit. “The Ethereum blockchain, a public blockchain network, is currently the only available blockchain for use by investors, although expansion to other blockchains is anticipated in the future,” according to the filing.
The SEC filing becomes effective May 13, though JPMorgan did not disclose a launch date for the fund.
It resembles a similar stablecoin reserve-focused money market fund launched last month by Morgan Stanley, though that product is not operating on blockchain rails.
Franklin Templeton also has a tokenized money market fund product known as BENJI.
“The Fund invests in a manner intended to satisfy the requirements for eligible reserve assets that stablecoin issuers are required to maintain under the Guiding and Establishing National Innovation for U.S. Stablecoins Act,” JPMorgan also said.
As part of the GENIUS Act, U.S.-compliant stablecoin issuers will be required to back their tokens with highly liquid assets such as U.S. Treasurys, cash and insured bank deposits.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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