Bankless · Friday, July 10, 2026
JP Morgan's tokenized money market fund on Ethereum Layer 1 has grown to $700 million, demonstrating continued adoption despite the platform not being optimized for real-world assets. Meanwhile, the competition for tokenizing real-world assets is intensifying, with platforms like Solana and Avalanche gaining traction due to their specific features that better suit issuer needs. Securitize, for example, chose Solana and Avalanche over Ethereum for its tokenized equity due to block times and compliance capabilities.
“JP Morgan built a $700 million fund on Ethereum and nobody noticed.”
“It's a money market. So it's U.S. Treasuries, overnight repo. It's not for typical retail investors. There's a $1 million minimum.”
“And yet it still might win the real world asset game, or at least JP Morgan is continuing to deploy there, the biggest bank in the US.”
“No asset issuer is looking at the censorship resistance of Ethereum and being like, great, I can call this place home.”