JPMorgan’s JLTXX tokenized money market fund surges 250% in a month to nearly $700M
JPMorgan's second tokenized money market fund hit $694.95M in AUM by July, signaling a structural shift in how institutions manage liquidity on-chain
JPMorgan just quietly built one of the fastest-growing tokenized funds in history, and most people missed it.
JLTXX, the bank’s OnChain Liquidity Token Money Market Fund, grew its on-chain assets under management by roughly 250% in a single month, according to data platform Token Terminal. The fund reached $694.95 million in AUM by July 2, 2026, up from approximately $200.3 million at the end of May.
What JLTXX actually is
JLTXX launched on May 13, 2026, exclusively on the public Ethereum blockchain. It is JPMorgan’s second tokenized money market fund, following MONY, which debuted on December 15, 2025, also on Ethereum.
The fund invests entirely in US Treasuries and overnight repurchase agreements secured by Treasuries or cash. It runs on JPMorgan’s Kinexys Digital Assets infrastructure and is accessible exclusively through the Morgan Money platform. The minimum investment sits at $1 million, the net expense ratio is 0.16% after waivers, and the daily yield stands at 3.51%. Qualified US investors only.
The fund seeded at roughly $100 million, with JPMorgan itself putting in the initial capital and crypto-native custodian Anchorage Digital participating at launch.
One structural detail worth flagging: JLTXX was specifically designed to help stablecoin issuers satisfy reserve requirements under the GENIUS Act, the recently passed US stablecoin legislation. JLTXX accepts both cash and stablecoins for subscriptions, which means it sits at the exact intersection of regulated finance and crypto-native infrastructure.
Why the growth rate matters
Both of JPMorgan’s tokenized funds live on public Ethereum, not on a permissioned chain or a proprietary ledger. That is a deliberate choice from a bank with its own blockchain infrastructure.
Anchorage Digital’s participation at launch connects the traditional fund structure to infrastructure that institutional crypto clients already use, making JLTXX more accessible to crypto-native treasuries looking for compliant yield.
JLTXX currently targets qualified US investors only. The GENIUS Act gives US issuers a first-mover advantage in compliant stablecoin reserves, as stablecoin issuers operating under the new framework need verifiable, compliant reserve assets, and tokenized Treasury funds that live on-chain, offer daily yield reinvestment, and support subscription and redemption in stablecoins are a structurally direct answer to that requirement.