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JPMorgan to Launch Tokenized Money Market Fund

Banking giant JPMorgan has filed to launch a new tokenized money market fund on Ethereum. The fund allows stablecoin issuers to hold reserves in a regulated vehicle while earning interest. The filing comes after Morgan Stanley announced its own money market fund called the Stablecoin Reserves Portfolio. JPMorgan Files to Launch Tokenized Money Market Fund The fund, called the OnChain Liquidity-Token Money Market Fund, will trade under the ticker JLTXX. According to a regulatory filing with the Securities and Exchange Commission, it will invest in US Treasury bills and overnight repurchase agreements collateralized by cash or US Treasurys. The fund will also comply with the GENIUS Act, signed in July, and be managed by JPMorgan’s Kinexys Digital Assets (KDA) unit. The filing adds that the fund utilizes a “permissioned system” sitting on top of blockchains. The fund is currently available only on Ethereum, but will be expanded to other networks in the future. The filing states, “The Ethe...
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eToro Profits Rise as Commodities Rally Offsets Crypto Trading Slump

Etoro reported a robust first quarter, with net income of $82 million, up 37% from the same period last year, as gains in commodities trading helped offset softer activity in crypto. The earnings beat was driven by a higher trading contribution and an improved profitability profile, even as the crypto segment faced headwinds that echoed broader industry softness. The company announced adjusted EBITDA of $109 million, up 35% year over year, while net contribution rose 19% to $258 million. On the revenue side, funded accounts climbed 12% to 4.02 million, and assets under administration rose 15% to $17 billion. Etoro also held $1.3 billion in cash, cash equivalents and short-term investments as of March 31. In a related trend, Etoro said that assets under administration reached $18.7 billion in April, up 19% year over year, with total money transfers for the month totaling $1.4 billion, up 53% from a year earlier. Commodities trading was the standout driver in the quarter, accounting for ...
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Legend shuts down its DeFi app, signaling consolidation in the sector

Legend, a mobile-first DeFi aggregator, is winding down after roughly two years of operation, joining a growing wave of crypto apps that have announced closures this year. The project aimed to simplify DeFi by letting users earn, trade, borrow and swap assets via a single non-custodial interface that bridged major protocols like Aave, Compound and Uniswap. Co-founders, including former Compound Finance executives, argued that the right interface could bring DeFi’s powerful primitives to mainstream users. “We believed the right interface could put DeFi’s most powerful primitives in front of mainstream users,” Legend’s co-founder Jayson Hobby said this week. Yet despite initial traction, the team said the product did not scale to a sustainable level, and closing was the prudent choice for both the team and investors. Legend will keep the app online for about 60 days and go offline on July 12, marking the end of its two-year run. Legend’s shutdown sits within a broader pattern this year a...
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CFTC backs Kalshi as Ohio dispute tests prediction-market rules

The U.S. Commodity Futures Trading Commission is stepping up its defense of federal authority over prediction markets, as it filed an amicus brief in the Sixth Circuit backing Kalshi in its challenge to Ohio’s regulatory stance. The CFTC argues that Ohio’s actions amount to jurisdictional overreach and threaten to undermine the agency’s exclusive reach over event contracts traded on designated contract markets (DCMs). Kalshi, a regulated prediction market operator, sought relief in federal court after Ohio authorities told Kalshi last year to halt offering sports event contracts in the state, labeling them unlicensed sports gambling. Kalshi had proceeded with such contracts in other jurisdictions, but Ohio’s position prompted the company to sue the state attorney general and the Ohio Casino Control Commission in October. A federal district court later denied Kalshi’s request to enjoin the state’s actions in March, prompting Kalshi to appeal. The CFTC’s latest amicus brief represents it...
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CFTC Backs Kalshi in Ohio Appeals Court Case on Event Contracts

The U.S. Commodity Futures Trading Commission has urged the Sixth Circuit Court of Appeals to affirm federal reach over prediction markets in a dispute centered on Kalshi and the state of Ohio. In an amicus brief filed on behalf of the agency, the CFTC argues that Ohio’s attempt to curb Kalshi’s sports-event contracts represents a jurisdictional overreach that threatens the CFTC’s longstanding oversight of event-based markets traded on designated contract markets (DCMs). The dispute began when Ohio authorities told Kalshi last year to halt its sports-event contracts in the state, labeling them unlicensed sports gambling. Kalshi subsequently sued the Ohio Casino Control Commission and the state attorney general in an effort to obtain a federal court order blocking state action. A federal district court in Ohio denied Kalshi’s request in March, prompting an appeal to the Sixth Circuit. “The federal district court in Ohio took an improperly narrow view of the Commission’s jurisdiction, an...
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JPMorgan Debuts Tokenized Money Market Fund Aimed at Stablecoin Issuers

JPMorgan Chase has filed with the U.S. Securities and Exchange Commission to launch a tokenized money market fund on Ethereum. The vehicle aims to hold reserves backing stablecoins in a regulated, cash-like structure while earning interest for investors. The OnChain Liquidity-Token Money Market Fund, ticker JLTXX, would invest in US Treasury bills and overnight repurchase agreements collateralized by US Treasuries or cash, according to the SEC filing. The fund is designed to comply with the GENIUS Act, a stablecoin-focused law signed in July. Investors would face a $1 million minimum investment, and the fund carries a 0.16% annual fee after waivers. JPMorgan’s blockchain unit, Kinexys Digital Assets, would manage the strategy. The filing indicates the regulatory filing becomes effective on Wednesday, though a formal launch date was not disclosed. Tokenization has drawn increasing attention from Wall Street executives in recent months, who see on-chain structures as potentially improvin...
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WAIB Summit Monaco 2026 Returns as Digital Assets & AI Forum

WAIB Summit Monaco returns after a successful 2025 edition, with dates set for June 9–10, 2026 at One Monte-Carlo in Casino Square. The event continues to position Monaco as a premier crossroads for Web3, artificial intelligence, and digital assets, drawing a global mix of founders, family offices, institutional investors, regulators, and brand leaders. Organizers say the two-day gathering will once again attract 2,000+ attendees from around the world, underscoring the summit’s role as a high-signal venue for collaboration, policy dialogue, and capital formation at the intersection of finance and technology. The Monaco setting—coupled with the momentum around the Formula 1 weekend—is designed to elevate conversations about the future of the internet and decentralized finance to the highest level. Key takeaways WAIB Monaco 2025 showcased 150+ speakers from Microsoft, Coinbase, OKX, B2C2, AS Monaco, and other leading brands and institutions. The event featured 50 top global KOLs with a c...
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