In step with the Wall Avenue Journal, US banking huge JPMorgan has launched potentially the most foremost tokenized cash market fund on Ethereum (ETH).
Accordingly, the fund will within the origin be supported by an initial funding of $100 million from its comprise interior capital.
The monetary institution acknowledged that it launched the fund after confirming significant buyer are looking ahead to for tokenization.
The fund, which is scheduled to originate to investors on Tuesday, can be accessible to eligible investors.
The WSJ document acknowledged that the non-public fund in demand can be called My OnChain Catch Yield Fund (MONY).
John Donohue, JPMorgan Asset Management’s global head of liquidity, expressed optimism regarding the initiative, announcing, “There is quite a lot of hobby from clients in tokenization.”
*This will not be funding advice.
