Why JPMorgan says tokenized funds can’t beat stablecoins

cryptonews04:23

JPMorgan says tokenized funds make up just 5% of the stablecoin market despite offering higher yield. Summary JPMorgan said in a May 21 report that tokenized money market funds represent only ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy JPMorgan says tokenized funds can’t beat stablecoins\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-22 04:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/tokenized-funds-hold-5-of-stablecoin-market-jpmorgan/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan says tokenized funds make up just 5% of the stablecoin market despite offering higher yield.\n\n\nSummary\n\n\n\nJPMorgan said in a May 21 report that tokenized money market funds represent only ...</p>\n\n<a href=\"https://crypto.news/tokenized-funds-hold-5-of-stablecoin-market-jpmorgan/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JPX","symbol_name":"Defiance Daily Target 2X Long JPM ETF","start_time":0,"source_url":"https://crypto.news/tokenized-funds-hold-5-of-stablecoin-market-jpmorgan/","article_id":"2637541083","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/tokenized-funds-hold-5-of-stablecoin-market-jpmorgan/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2637541083","pubTimestamp":1779395015,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"JPMorgan says tokenized funds make up just 5% of the stablecoin market despite offering higher yield.JPMorgan said in a May 21 report that tokenized money market funds represent only about 5% of total stablecoin market supply.Stablecoins retain dominance as the default cash instrument across exchanges, DeFi protocols and cross-border payment systems.JPMorgan expects tokenized funds to grow faster than stablecoins but sees a 10-15% ceiling absent meaningful regulatory reform.JPMorgan published a report on May 21 finding tokenized funds account for just 5% of total stablecoin market supply despite offering higher yield. The bank said stablecoins remain the default cash instrument across trading, collateral and payments.The report found stablecoins dominate because they are seamlessly integrated into centralised exchanges, DeFi protocols and cross-border payment systems. Tokenized funds require additional subscription and redemption steps, limiting their use in high-frequency on-chain act","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"JPX":"Defiance Daily Target 2X Long JPM ETF","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1861558580.USD":"日兴方舟颠覆性创新基金B","CRCA":"Proshares Ultra CRCL","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","CRCD":"T-REX 2X Inverse CRCLDaily Target ETF","PGF":"优先金融股指数ETF-PowerShares","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","CRCG":"2倍做多CRCL ETF-Leverage Shares","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","BK4207":"综合性银行","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","CRCO":"YIELDMAX CRCL OPTION INCOME STRATEGY ETF","BK4516":"特朗普概念","ICRC":"Bitwise CRCL Option Income Strategy ETF","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0971096721.USD":"富达环球金融服务 A","CRCL":"Circle Internet Corp.","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","JPM":"摩根大通","CCUP":"T-REX 2x Long CRCL Daily Target ETF","JPO":"JPM期权收益策略ETF-YieldMax","JPMO":"JPM期权收益策略ETF-YieldMax","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU0106831901.USD":"贝莱德世界金融基金A2","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","BK4585":"ETF&股票定投概念","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","BK4534":"瑞士信贷持仓","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV"},"translate_title":"为什么摩根大通表示代币化基金无法击败稳定币","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/1f954e83e4476820231c890d00f6d957","symbols_score_info":{"JPM":1.5,"CRCG":0.6,"JPX":0.6,"CRCL":0.86,"ICRC":0.6,"CRCD":0.6,"CRCA":0.6,"CRCO":0.6,"CCUP":0.6,"JPO":0.6,"JPMO":0.6,"PGF":1.5},"content_text":"JPMorgan says tokenized funds make up just 5% of the stablecoin market despite offering higher yield.\n\n\nSummary\n\n\n\nJPMorgan said in a May 21 report that tokenized money market funds represent only about 5% of total stablecoin market supply.\nStablecoins retain dominance as the default cash instrument across exchanges, DeFi protocols and cross-border payment systems.\nJPMorgan expects tokenized funds to grow faster than stablecoins but sees a 10-15% ceiling absent meaningful regulatory reform.\n\n\n\nJPMorgan published a report on May 21 finding tokenized funds account for just 5% of total stablecoin market supply despite offering higher yield. The bank said stablecoins remain the default cash instrument across trading, collateral and payments.\nThe report found stablecoins dominate because they are seamlessly integrated into centralised exchanges, DeFi protocols and cross-border payment systems. Tokenized funds require additional subscription and redemption steps, limiting their use in high-frequency on-chain activity.\nWhy stablecoins keep winning despite lower yields\n\nJPMorgan says tokenized money market funds unlikely to grow beyond 15% of stablecoin market https://t.co/q9fuRz22pJ— The Block (@TheBlockCo) May 21, 2026\n\nJPMorgan pointed to a streamlined SEC process introduced this year to simplify on-chain money market fund issuance. However, the bank described these developments as “marginal” and unlikely to overcome stablecoins’ structural liquidity advantage.\nCrypto.news has reported on JPMorgan’s JLTXX fund launch on Ethereum in May 2026, structured to meet GENIUS Act reserve requirements for stablecoin issuers. Crypto.news has also tracked JPMorgan’s earlier MONY fund launch in December 2025, seeding its first move onto a public blockchain.\nWhat it would take to change the balance\nJPMorgan’s ceiling of 10-15% depends on regulatory changes the bank called unlikely in the near term. Without rules allowing tokenized funds to function like stablecoins across exchanges and payment rails, yield alone cannot close the gap.\n“Investors are increasingly looking for ways to modernize liquidity management without changing the fundamentals of what they own,” said John Donohue, Head of Global Liquidity at J.P. Morgan Asset Management.\nThe stablecoin market stands at roughly $240 billion, meaning a 10% tokenized fund share would represent $24 billion in assets. Crypto.news has also noted JPMorgan’s view that tokenization will reshape the funds industry, though the bank’s own data suggests the stablecoin moat runs deeper than the yield gap implies.\n\n\n\n\n\n                Read more:\n            \n\n                Bankless reportedly axes most of team in silence as co-founder declares ‘end of first era’","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2637541083","isCrawlerRequest":true}