JPMorgan reportedly planning to launch Ethereum-based tokenized MMF

JPMorgan is reportedly planning to launch an Ethereum-based money market fund (MMF), according to Unfolded. The fund, to be managed by Kinexys Digital Assets, will invest in U.S. Treasury bonds and ultra-short-term repurchase agreements (repos). The fund is also reportedly designed to be usable as collateral for stablecoin reserves under the GENIUS Act. Market analysts suggest the move is a strategy to meet growing demand from stablecoin issuers for on-chain, highly liquid assets. However, the fund's size has not yet been disclosed, and its actual market impact is expected to depend on its future adoption by stablecoin issuers.