Wall Street banking giant JPMorgan Chase launched its first tokenized money market fund, named My OnChain Net Yield Fund (MONY), on the Ethereum blockchain.

Initially seeded with $100 million of the bank’s own capital, MONY invests exclusively in U.S. Treasuries and fully collateralized Treasury repos, providing daily dividend reinvestment and U.S. dollar yield.

This story is an excerpt from the Unchained Daily newsletter.

Qualified investors, with at least $1 million in capital, can access it via the Morgan Money platform using cash or stablecoins like USDC, receiving tokens directly in their wallets.

The launch comes as the market for tokenized real world assets surpassed $30 billion this year, with Ethereum accounting for the majority of volume.