J.P. Morgan Asset Management has expanded access to its tokenized money market funds by making two products available on the Solana blockchain, giving qualified U.S. investors another network through which to access blockchain-based cash-management investments.
The funds, My OnChain Net Yield Fund (MONY) and JPMorgan OnChain Liquidity–Token Money Market Fund (JLTXX), are accessible through Morgan Money, the firm’s institutional trading and liquidity-management platform. Investors can subscribe to and redeem the funds through the platform, receiving token balances at their blockchain addresses, according to the company’s October 22 announcement.
The expansion adds Solana to the funds’ existing availability on Ethereum, extending J.P. Morgan Asset Management’s multi-chain approach to tokenized financial products.
Two Funds, Different Investment Structures
MONY is a private-placement fund structured under Rule 506(c), offering eligible investors exposure to U.S. dollar-denominated yields. It launched on Ethereum in December 2025.
JLTXX, introduced in May 2026, is a U.S.-registered government money market fund designed to support stablecoin issuers under the GENIUS Act. Its investment strategy focuses on U.S. Treasury securities and overnight repurchase agreements fully collateralized by U.S. Treasury securities or cash.
Although both funds use blockchain-based tokens to represent fund holdings, they are investment products rather than stablecoins. Their tokens represent fund interests and do not guarantee a fixed value or carry deposit insurance. J.P. Morgan warns that investors could lose money and that neither fund is insured or guaranteed by the Federal Deposit Insurance Corporation or another government agency.
Access remains restricted to eligible investors, with MONY subject to its private-placement requirements.
Morgan Money Extends Onchain Access Across Networks
Morgan Money provides a single platform through which eligible investors can access the tokenized funds across supported blockchain networks. The expansion is intended to accommodate clients whose digital-asset operations span more than one network, including institutional investors and stablecoin issuers.
“Bringing JLTXX and MONY to Solana gives stablecoin issuers and institutional investors access to the same funds, across the on-chain networks where they operate,” said Paul Przybylski, J.P. Morgan Asset Management’s global head of product for digital and tokenized assets.
The move builds on the firm’s broader tokenization infrastructure, which connects fund service providers and transfer-agent processes with public blockchains. J.P. Morgan has positioned tokenized money market funds as a way to retain traditional investment structures while enabling blockchain-based ownership records and transfers.
Tokenized Funds and Stablecoins Remain Distinct
The Solana expansion comes as financial institutions explore ways to make traditional cash-management products available on blockchain networks. Tokenized money market funds can offer investment yield, while stablecoins are generally designed to maintain a stable value and facilitate payments or digital-asset transactions. Their legal structures, investor access and uses differ.
In a May analysis, J.P. Morgan analysts argued that tokenized money market funds would remain constrained relative to stablecoins by regulatory and transferability requirements. The addition of another blockchain broadens the funds’ network availability, but it does not remove their investor eligibility requirements or make them interchangeable with stablecoins.
For J.P. Morgan Asset Management, the Solana rollout is an expansion of distribution and blockchain access rather than the launch of a new fund. It also reflects growing efforts to connect traditional investment products with the networks used by institutional and digital-asset market participants.