J.P. Morgan Asset Management has launched its first tokenised money market fund, expanding its digital asset offering for institutional investors.

The fund is available exclusively to qualified investors through the Morgan Money platform.

The My OnChain Net Yield Fund operates on the public Ethereum blockchain and is powered by Kinexys Digital Assets. The vehicle invests only in US Treasury securities and repurchase agreements fully collateralised by Treasuries.

The launch makes J.P. Morgan the largest global systemically important bank to introduce a tokenised money market fund on a public blockchain. Investors receive tokens directly to their blockchain addresses.

George Gatch, CEO of J.P. Morgan Asset Management, said: “Active management and innovation are at the heart of how we deliver new solutions for investors navigating today’s financial landscape.”

John Donohue, Head of Global Liquidity, added: “We expect other GSIB banks to follow our lead in providing clients with greater optionality in how they invest in money market funds.”

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