JPMorgan taps both Ethereum and Solana for separate reasons for its institutional cash stack
JPMorgan filed a prospectus on May 12 for the JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX. The fund invests exclusively in US Treasury securities and overnight repo collateralized by Treasuries and cash, targeting a $1.00 net asset value. JPMorgan manages it to meet the eligible reserve asset requirements that stablecoin issuers may need...
Key takeaways
- 1JPMorgan launched JLTXX money market fund on May 12, investing exclusively in US Treasury securities and overnight repo.
- 2Fund targets $1.00 net asset value to meet stablecoin issuers' eligible reserve asset requirements.
- 3JPMorgan deploys both Ethereum and Solana separately for institutional cash management and liquidity purposes.
Coins in this story
Why it matters
This signals institutional adoption of blockchain infrastructure for treasury management in India's emerging crypto ecosystem, while demonstrating how major banks are integrating crypto rails for traditional finance operations, potentially influencing regulatory frameworks for stablecoins and reserve requirements.
Related stories
XRP tops bitcoin, ether volumes on major South Korean exchanges
XRP leads trading volumes on South Korean exchanges Upbit and Bithumb, surpassing Bitcoin and Ether in KRW pairs—a pattern historically signaling imminent volatility. The token trades near $1.44-$1.45, repeatedly failing to break $1.49-$1.50 resistance since February. Korean traders concentrate activity in this high-beta asset amid cooling local risk appetite, suggesting positioning ahead of potential breakout moves.
Hyperliquid ETF attracts $1.2M inflows in 'very solid' US debut
21Shares' Hyperliquid ETF (THYP) debuted on Nasdaq with $1.2 million inflows and $1.8 million trading volume, marking a solid but modest launch. The fund tracks the HYPE token tied to the perpetual futures platform. While below recent crypto ETF debuts, analysts called it "very solid," reflecting easier SEC approval standards for altcoin ETFs post-September's regulatory shift.
Bitcoin back above $81,000 after hot CPI print, BNB, DOGE lead majors gains
Bitcoin rolled back to $81,200 after dipping to $79,800 on Tuesday's hotter-than-expected U.S. inflation reading, while BNB zoomed 2.5% over 24 hours and dogecoin added 1.3% as crypto funds saw their strongest weekly inflows in months....