JPM Coin has zero Ethereum provide after launch, Sentora says

JPMorgan’s JPM Coin has recorded zero provide and 0 transfers on Ethereum in a contract evaluate by Sentora, days after the financial institution introduced the deposit token’s arrival on the community.

Sentora mentioned its evaluate discovered precisely one allowlisted handle within the verified Ethereum contract, whereas the token’s Base deployment held roughly $1 million throughout two addresses, unchanged since November 2025.

The analysis agency’s findings cowl the deposit token and separate actions in J.P. Morgan Asset Administration’s tokenized liquidity fund. Its briefing reported $400 million in JLTXX redemptions on Ethereum throughout Oct. 21–22, alongside an increase within the fund’s Solana deployment from close to zero to $450 million.

Sentora attributed these figures to its contract-level evaluation. The timing doesn’t set up that the identical traders redeemed on Ethereum and subscribed on Solana, and the briefing didn’t determine transactions connecting the 2 actions.

JPM Coin’s Ethereum contract reveals no provide in Sentora’s evaluate

JPMorgan introduced JPM Coin, which carries the ticker JPMD, to Ethereum for accepted institutional purchasers on Oct. 19. As crypto.information beforehand reported, the financial institution’s Ethereum deposit token launch adopted its November 2025 rollout on Base.

The deposit token represents U.S. greenback deposits held at JPMorgan. The launch protection described institutional funds, securities settlement, and collateral funds as meant makes use of, with entry restricted to accepted clients regardless of using a public blockchain.

Sentora’s subsequent evaluate reported no issued provide or transfers within the Ethereum contract it examined. Its Base findings described an unchanged provide steadiness, with holdings concentrated in two addresses.

An unchanged provide determine doesn’t, by itself, set up whether or not transfers occurred throughout that interval. Sentora’s briefing expressly reported zero transfers for Ethereum however didn’t present an equal historic switch rely for Base.

The agency additional mentioned it had discovered no stay on-chain integration between JPM Coin and the financial institution’s cash market funds or decentralized finance protocols. Its assertion involved the integrations seen in its evaluate, with out documenting each potential institutional association.

JLTXX information $400 million in Ethereum redemptions

Sentora reported that JLTXX’s Ethereum deployment recorded $400 million in redemptions throughout Oct. 21–22. Over the identical interval, its briefing positioned the Solana deployment at $450 million after beginning close to zero.

The figures describe totally different measures throughout two networks. One is a redemption whole, whereas the opposite is the reported measurement of a deployment after its development. They don’t set up a precise dollar-for-dollar migration.

J.P. Morgan Asset Administration introduced on Oct. 22 that JLTXX and its My OnChain Web Yield Fund, often called MONY, have been obtainable to certified U.S. traders on Solana. Traders can entry the two tokenized funds by way of Morgan Cash, which handles subscriptions and redemptions and delivers token balances to blockchain addresses.

“Our clients operate across more than one network, and their liquidity should too,” mentioned Paul Przybylski, the asset supervisor’s world head of product, digital and tokenized property.

The corporate’s announcement identifies JLTXX as a U.S. registered authorities cash market fund designed to assist stablecoin issuers below the GENIUS Act. MONY is a separate personal placement fund launched in December 2025. The discharge doesn’t disclose property held on Solana for both product.

JPMorgan’s fund paperwork retain investor and possession controls

JPMorgan’s MONY FAQ lists a $1 million preliminary funding minimal and costs of 16 foundation factors. The doc describes a British Virgin Islands personal placement automobile, with entry topic to anti-money laundering and know-your-customer checks.

The FAQ says MONY invests in U.S. Treasury securities and Treasury-backed repurchase agreements, searching for a steady web asset worth of $1 per share. Though its tips comply with these relevant to authorities cash market funds, the personal automobile isn’t topic to Rule 2a-7.

JPMorgan identifies SS&C as MONY’s switch agent and says the official shareholder information stay off-chain. Traders want their very own blockchain addresses to carry tokens, whereas peer-to-peer transfers are restricted to purchasers.

The Oct. 22 launch announcement warns that investments within the funds aren’t financial institution accounts and aren’t insured by the Federal Deposit Insurance coverage Company. JPMorgan says the funds search to protect a $1 share worth however can not assure it.

BNY completes tokenized Treasury financing with Citadel Securities

A separate institutional transaction concerned BNY’s tokenized Treasury repo deal with Citadel Securities, introduced on Oct. 13.

BNY mentioned Citadel Securities bought a two-year U.S. Treasury word by way of the financial institution on Tradeweb. A tokenized illustration of the safety settled inside minutes on BNY’s personal digital ledger earlier than Citadel Securities pledged it as collateral in an in a single day triparty repurchase settlement.

BNY provided money in opposition to the safety and described the transaction as the primary use of tokenized property on a serious triparty repo platform. Its announcement documented commerce execution, settlement and financing inside the similar workflow.

The financial institution mentioned it plans to introduce additional digital money and tokenized deposit companies. BNY expects to develop working hours for its conventional settlement platforms protecting Fed-eligible securities and U.S. triparty transactions into European and Asian buying and selling hours subsequent yr.