J.P. Morgan’s tokenized U.S. Treasury products have grown from about $300 million at the end of May to $884.6 million, a 195% increase in 90 days, while its flagship funds, JLTXX and MONY, collectively hold about $900 million. JLTXX launched on May 13, 2026, with $100 million seeded through J.P. Morgan’s Kinexys Digital Assets platform, and MONY launched in December 2025 with a similar capital infusion. Both funds operate on Ethereum, accept subscriptions from institutional investors starting at $1 million and support real-time on-chain settlement using cash or USDC. JLTXX was designed to meet potential reserve-asset requirements under the proposed GENIUS Act. The broader tokenized U.S. Treasury market has surpassed $15 billion, with BlackRock’s BUIDL fund and Securitize among the competing offerings, although regulatory, custody and compliance challenges remain.