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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that JPMorgan has filed for a tokenized money market fund.
Balchunas highlights that the move signifies JPMorgan's increasing involvement in crypto. He points out that the fund would feature a notably low fee of 16 basis points for a stable net asset value, which is lower than most traditional money funds, although Vanguard's is around 11 basis points. Balchunas also credits Isabelle Tan Lee for the scoop.
Balchunas has recently tracked other ETF developments in the sector. He reported that Roundhill delayed the effective date for its prediction market ETFs to May 11. In a separate note, he highlighted Corgi's plans to launch 34 ETFs at once, with up to 300 filings. These filings mark an active period for new fund launches and updates.