The Fifth Rail: JPMorgan and BlackRock Are Building the Reserve Layer Every Stablecoin Issuer Will Need by 2027

What happened: J.P. Morgan Asset Management launched JLTXX, an on-chain government money market fund, on public Ethereum mainnet on May 13, 2026. BlackRock launched BSTBL, a tokenized share class of an existing money market fund, on August 3, 2026. Key numbers: JLTXX initial commitment $100 million; on-chain AUM approximately $677 million to $755 million by October 2026; $1.00 NAV; minimum Why it matters: GENIUS Act Section 4(a)(1)(A) permits tokenized forms of eligible reserve assets, positioning these funds as reserve infrastructure for stablecoin issuers. Total: 598 characters Coverage: 3 outlets in 24h

J.P. Morgan Asset Management launched JLTXX, an on-chain government money market fund, on public Ethereum mainnet on May 13, 2026. BlackRock launched BSTBL, a tokenized share class of an existing money market fund, on August 3, 2026.

GENIUS Act Section 4(a)(1)(A) permits tokenized forms of eligible reserve assets, positioning these funds as reserve infrastructure for stablecoin issuers. Total: 598 characters