JPMorgan’s JLTXX tokenized money market fund has grown its onchain assets under management by roughly 250% over the past month, according to data platform Token Terminal. The bank runs the fund exclusively on Ethereum. JLTXX, formally the OnChain Liquidity Token Money Market Fund, launched May 13…
JPMorgan’s JLTXX tokenized money market fund has grown its onchain assets under management by roughly 250% over the past month, according to data platform Token Terminal. The bank runs the fund exclusively on Ethereum.
JLTXX, formally the OnChain Liquidity Token Money Market Fund, launched May 13 with JPMorgan seeding it with $100 million of its own capital, according to a thread from ethereuminsti. Other launch investors brought day-one total value locked to $200 million. Seven weeks later, TVL reached $695 million, a 248% increase, the thread said, a figure consistent with Token Terminal’s roughly 250% estimate.
JLTXX’s growth partly reflects its use as reserve backing for stablecoins. Dune’s analytics account said the fund’s addition to USDG’s reserves, alongside BlackRock’s BUIDL and Superstate’s STBXX, points to rising institutional demand for onchain Treasury exposure that complies with the GENIUS Act, the U.S. stablecoin law that sets eligibility rules for reserve assets.
Second Filing in May
The Defiant previously reported that JPMorgan filed for the fund on May 13, roughly three weeks after Morgan Stanley launched its own Stablecoin Reserves Portfolio, as banks compete to supply compliant reserve assets to stablecoin issuers.
Ethereum remains the only blockchain available to JLTXX investors, per ethereuminsti, even as JPMorgan operates its own private Kinexys network for other settlement activity. The fund’s growth adds to a broader push by banks and asset managers, including BlackRock and Fidelity, to bring money market products onchain as stablecoin issuers seek yield-bearing, regulation-compliant collateral.
No exact current AUM figure has been published by JPMorgan itself; the $695 million and 248%-250% growth figures come from third-party onchain trackers Token Terminal and Dune, which independently arrived at consistent numbers.
