J.P. Morgan Asset Management announced on October 22 that its two tokenized money market funds now run on Solana. MONY and JLTXX both launched first on Ethereum, so Solana becomes their second network. Qualified U.S. investors subscribe and redeem through Morgan Money, the firm’s trading and analytics platform for liquidity management. Token balances then arrive at each investor’s own blockchain address. As a result, one platform handles the order flow, the redemptions, and the onchain record of holdings. Paul Przybylski, the firm’s global head of product for digital and tokenized assets, said clients “operate across more than one network, and their liquidity should too.” The firm manages $4.8 trillion in assets as of September 30, 2026, which gives the expansion considerable weight.
BREAKING: @JPMorganAM’s tokenized money market funds are live on Solana. MONY and JLTXX are both available to qualified U.S. investors through Morgan Money, with subscriptions, redemptions and token balances handled on one platform. https://t.co/hZBR6Q8wHS
— Solana (@solana) October 22, 2026
How MONY and JLTXX Differ
MONY, or My OnChain Net Yield Fund, is a private placement offered under Rule 506(c). It admits only investors who qualify as both Qualified Purchasers and Accredited Investors. The fund launched on Ethereum in December 2025 with $100 million of JPMorgan’s own capital. It holds U.S. Treasuries and repurchase agreements backed by Treasuries, and it targets a stable $1 share value. According to its FAQ, MONY carries a $1 million minimum and fees of 16 basis points. Additionally, official shareholder records stay offchain with the transfer agent, SS&C. Investors therefore hold a token that mirrors their position, not a standalone onchain asset.
JLTXX, the JPMorgan OnChain Liquidity-Token Money Market Fund, takes a different form. It is a U.S.-registered government money market fund, and it launched on Ethereum on May 13, 2026. JPMorgan seeded it with $100 million, and Anchorage Digital participated. The fund holds only U.S. Treasuries and overnight repurchase agreements backed by Treasuries or cash. Notably, JPMorgan designed it to support stablecoin issuers that must comply with the GENIUS Act. Issuers can use it to manage reserves, and optional services convert USDC to dollars before purchases and back to USDC after redemptions. Circle has no affiliation with the fund, its adviser, or Kinexys.
A Permissioned Structure, Not an Open Token
These tokens do not behave like typical Solana assets. JLTXX uses an allow list, so only fund-approved addresses can buy, redeem, or transfer. The transfer agent’s investor register determines legal ownership. Consequently, token and share records can differ briefly when blockchain instructions arrive outside business days. The prospectus also states that fund shares and token balances are not stablecoins. Meanwhile, MONY restricts peer-to-peer transfers to clients.
Readers should also watch for imitations. Solana Compass reported that JPMorgan has published only two official token addresses. MONY uses EToDtBM2knZ8N1BHyUq2Riq5ngWTcoD3k6qpsgf7CKYY, and JLTXX uses J4cTuCH6frt4AnEmKfMS2k8hsUf7K94PV62sjUJno8Cz. Several lookalike JLTXX tokens on Pump.fun have no connection to the fund. One appeared two seconds after Solana’s official account posted the news. Neither official mint has decentralized exchange liquidity, which fits a permissioned fund share.
Why Solana, and Who Else Is There
Solana has built momentum around institutional settlement over the past year. On October 6, the Solana Foundation announced Solana DvP, an open-source program that settles an asset leg and a cash leg in one transaction. The foundation built it with input from J.P. Morgan. Additionally, J.P. Morgan’s Scott Lucas described a $50 million commercial paper transaction on Solana at Breakpoint 2025. RWA.xyz data showed Solana leading all blockchains in 30-day tokenized Treasury inflows in August 2026.
JPMorgan also enters a field with established rivals. BlackRock’s BUIDL reached Solana through Securitize in March 2025 as its seventh network. Franklin Templeton added Solana support for its BENJI token in February 2025. Spiko brought its Amundi-managed money market fund to Solana on July 2, 2026. In contrast to those products, JPMorgan’s funds ride on its own Morgan Money workflow, which many institutional clients already use.
What the Launch Leaves Unanswered
JPMorgan did not disclose expected Solana holdings or name any subscriber. The firm also did not restate minimums for the Solana tokens. In fact, the August 17 prospectus supplement for JLTXX still lists Ethereum as the only blockchain. Investors should confirm current terms with Morgan Money before they subscribe.
The funds carry standard risks, and JPMorgan states them plainly. The funds cannot guarantee a $1.00 share value, and no government agency insures them. Blockchain use adds risks such as transaction delays, security breaches, regulatory changes, and network splits. Even so, the launch shows how a major asset manager now treats multichain access as a baseline requirement. Stablecoin issuers, treasury teams, and institutional allocators now have a second public network for regulated cash products.
*Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.
