J.P. Morgan Asset Management has made its MONY and JLTXX tokenized money market funds available on Solana for qualified U.S. investors. Both funds already ran on Ethereum, and explorer snapshots show sharply different token balances on the two networks.
J.P. Morgan Asset Management made its MONY and JLTXX tokenized money market funds available on Solana on Oct. 22. Qualified U.S. investors get another blockchain on which to hold the funds' token balances.
Investors can subscribe and redeem through Morgan Money, the firm's liquidity-management platform, and receive token balances at their blockchain addresses, according to the company. Access stays with the institutional platform.
Two funds, two investor groups
The products serve different needs. MONY, the My OnChain Net Yield Fund, is a 506(c) private placement that offers qualified investors U.S. dollar yields. JPMorgan says its intended investors generally include qualified purchasers and accredited investors.
JLTXX, the JPMorgan OnChain Liquidity–Token Money Market Fund, is a U.S.-registered government money market fund designed to support reserve investments of stablecoin issuers under the GENIUS Act. Its prospectus sets out a strategy of short-dated U.S. Treasuries and overnight repurchase agreements fully collateralized by Treasuries and/or cash. The September factsheet lists a $1 million investment minimum.
The Solana deployment extends an existing Ethereum offering. MONY launched in December 2025, followed by JLTXX in May 2026, and both already used Morgan Money for access.
Token balances differ sharply across chains
Explorer snapshots viewed on Oct. 22 showed about 450.1 million JLTXX tokens on Solana, exceeding the 341.8 million displayed on Ethereum. For MONY, Solscan displayed just six tokens on Solana, against about 103.1 million displayed by Blockscout on Ethereum.
However, these counts show the distribution of token balances, not new inflows. According to The Defiant, token counts are not a measure of new subscriptions or fund AUM.
JLTXX's May prospectus says balances are intended to correspond one-for-one with fund shares, but the transfer agent's offchain investor register is the definitive record of ownership. The fund also restricts token transactions to approved addresses, so a move onto a public blockchain does not make its tokens freely available to all wallets.
Source: The Defiant
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