JPMorgan Now Offers Two Tokenized Money Market Funds on Solana

JPMorgan adds Solana to its institutional crypto strategy. Since October 22, its two tokenized money market funds, MONY and JLTXX, are accessible on the network to qualified American investors via Morgan Money. The products remain available on Ethereum as well. The change is less about creating new funds and more about a multichain extension of already operational financial products.

In Brief

• JPMorgan makes MONY and JLTXX available on Solana.
• JLTXX managed $628.48 million as of September 30.
• Both funds remain reserved for eligible American investors.

JPMorgan Expands Its Crypto Funds Beyond Ethereum

MONY and JLTXX began their journey on Ethereum. MONY was launched in December 2025. At that time, JPMorgan deployed $100 million in its first tokenized money market fund aimed at qualified investors. JLTXX followed in May 2026. With Solana, JPMorgan is not moving these products off Ethereum; the bank is simply adding a second public blockchain.

Investors still go through Morgan Money, the group's liquidity management platform. They can subscribe or request redemption of their shares, then receive tokens representing their position directly on a blockchain address.

MONY remains a private 506(c) structure aimed at qualified investors and designed to produce a yield in dollars. JLTXX has a different profile. It is a registered U.S. government money market fund. It invests solely in U.S. Treasury securities and repurchase agreements backed by Treasuries or cash.

As of September 30, JLTXX held $628.48 million in assets. Its daily yield was 3.73%, with a seven-day SEC yield of 3.79%. These are already significant figures for a product launched just five months earlier.

Solana Gains a New Brick in Tokenized Finance

JPMorgan explains its choice with a fairly simple observation: its clients use multiple blockchains and want to be able to move their liquidity between these different networks. Solana thus becomes a new access channel to traditional financial products represented in token form. The network arrives with an RWA market that has already grown significantly. Over twelve months, the value of tokenized assets on Solana has risen from about $700 million to $4.3 billion.

JPMorgan is now adding two money market funds to this mix. JLTXX is of particular interest to the crypto sector. The fund was designed to invest according to rules that can meet the reserve requirements imposed on stablecoin issuers by the GENIUS Act. An issuer can thus keep part of its reserves in a product exposed to Treasuries while having tokens representing its shares on the blockchain.

However, JPMorgan has not announced any stablecoin issuer already using JLTXX on Solana. The bank also does not specify how many assets have been transferred to the new Solana versions of MONY and JLTXX. The $628.48 million corresponds to JLTXX's total assets as of September 30, not the amount currently present on Solana. This distinction avoids artificially inflating the scope of the launch.

JPMorgan's Crypto Strategy Clearly Becomes Multichain

The movement now extends beyond the two funds. JPMorgan has been multiplying experiments on public blockchains for a year. The bank has used Solana for a commercial paper issuance, is developing its on-chain settlement infrastructures, and is gradually deploying its products across multiple networks.

Ethereum, however, remains central. A few days before the announcement on Solana, JPMorgan had opened JPM Coin to institutions directly on Ethereum. Its deposit token JPMD was previously available on Base.

The model is becoming quite clear. JPMorgan retains its own platforms and access controls, but assets can now circulate across multiple public blockchains. The bank no longer asks its institutional clients to choose between traditional finance and crypto infrastructure.

It brings its products directly to the networks where these clients are already working. The size of the group gives weight to this evolution. J.P. Morgan Asset Management managed $4.8 trillion in assets as of September 30, 2026.

MONY and JLTXX still represent only a tiny fraction of that. But their transition from Ethereum to Solana shows that tokenization is no longer treated solely as an isolated experiment. JPMorgan is now building a multichain distribution for its cash management products. Ethereum was the first door. Solana becomes the second.