Crypto
JPMorgan seeks to launch Ethereum-based tokenised MMF targeting stablecoin reserve demand
JPMorgan has filed with the U.S. Securities and Exchange Commission to launch a tokenised money market fund, JLTXX, aimed at demand from stablecoin issuers for qualifying reserve assets. The product is designed to run on the Ethereum blockchain and meet reserve asset requirements under the GENIUS Act. The filing says the fund will mainly invest in U.S. Treasuries and overnight repo transactions backed by Treasuries or cash.
