Tokenized funds add $2.7B in market cap over 90 days as JPMorgan and Ondo lead the charge

The tokenized fund market experienced significant growth over the past 90 days, adding approximately $2.7 billion in market capitalization to reach a total value of $38 billion by mid-August 2026. This expansion is primarily driven by JPMorgan’s JLTXX government money market fund and Ondo Finance’s USDY yield-bearing note. JLTXX, which launched on Ethereum in May 2026, has seen its valuation climb to over $800 million, while USDY has reached a market value of roughly $2.1 billion. These products are gaining traction by offering exposure to Treasury yields while providing the liquidity and collateral utility of digital assets. Stablecoin issuers are increasingly utilizing these on-chain instruments to manage reserves with greater transparency and reduced operational friction. The success of these funds demonstrates that regulated financial products can effectively integrate with blockchain technology without compromising compliance. This trend signals a maturing legal and technical infrastructure that is successfully attracting large-scale institutional allocators to the RWA sector.