Gate Daily (December 16): JPMorgan's tokenized fund launches on Ethereum; digital asset ETP sees three consecutive weeks of inflows

Bitcoin (BTC) crashes sharply, currently around $85,994 as of December 16. JPMorgan launches its first tokenized money market fund on Ethereum, offering qualified investors the opportunity to earn USD returns through its institutional trading platform Morgan Money. Digital asset ETPs have achieved net inflows for the third consecutive week, mainly driven by demand in the US.

Macro Events & Crypto Highlights

1. JPMorgan, one of the world’s largest banks, is rolling out its first money market fund through its $4 trillion asset management division to advance its tokenized finance strategy. JPMorgan announced on Monday that the fund is called My OnChain Net Yield Fund, ticker symbol MONY, tradable on the public Ethereum blockchain. MONY is issued via JPMorgan’s proprietary tokenization platform Kinexys Digital Assets, a 506© private placement fund providing qualified investors the chance to earn USD returns by subscribing through Morgan Money.

2. According to a report released Monday by European digital asset management firm CoinShares, crypto exchange-traded products (ETPs) saw approximately $864 million in net inflows last week. The US led with about $796 million in inflows, followed by Germany (around $86.5 million) and Canada (about $26.8 million). These three countries account for approximately 98.6% of digital asset investment product inflows year-to-date. Data shows Swiss-listed crypto ETPs experienced weekly outflows of about $41.4 million, with a net inflow of around $62.24 million since the beginning of the year.

News & Updates

1. Startale and SBI in Japan to launch regulated Japanese Yen stablecoins.

2. Huang Licheng has been liquidated 200 times since the market crash on October 11, with total losses exceeding $22.88 million.

3. Nasdaq will formally apply for 5x24-hour trading.

4. Bitcoin active addresses have fallen to the lowest level in a year, raising new concerns about block space demand.

5. The US Senate has postponed the debate on the crypto market structure bill until next year.

6. Ripple co-founder Jed McCaleb’s space startup Vast is in talks for a $2 billion valuation funding.

7. PayPal launches PYUSD savings vault on the Spark platform.

8. Crypto bank Anchorage has acquired Securitize’s wealth management division.

9. Trump states he will “consider” pardoning the developer of Bitcoin application Samourai.

10. Circle plans to acquire Interop Labs team and intellectual property, while Axelar remains independently operated.

Market Trends

1. Latest Bitcoin news: $BTC Crash and sharp decline, currently around $85,994, with $185 million in liquidation in the past 24 hours, mainly long positions;

2. US stock markets closed slightly lower on December 15, as investors prepare for a series of economic data releases later this week, while also evaluating reports and statements from officials regarding Federal Reserve chair candidacies to gauge interest rate outlooks. The Dow Jones Industrial Average closed down 41.49 points, down 0.09%, at 48,416.56; S&P 500 fell 10.90 points, down 0.16%, at 6,816.51; Nasdaq dropped 137.76 points, down 0.59%, at 23,057.41. The Philadelphia Semiconductor Index closed down 43.16 points, down 0.61%, at 6,990.41.

(Source: Gate)

3. Based on the Gate BTC/USDT liquidation map, with the current price at 86,144.40 USDT, a decline to around $84,900 could trigger over $284 million in long liquidations; an increase to around $90,347 could result in over $1.44 billion in short liquidations. Short positions’ liquidation amount is significantly higher than longs, so it’s advisable to control leverage ratios prudently to avoid large-scale liquidations during market volatility.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflows totaled $2.07 billion, outflows $2.25 billion, net outflow $180 million.

(Source: Coinglass)

5. In the past 24 hours, net outflows led in contracts trading for $PIPPIN, $FHE, $BEAT, $GUN, $ADA , indicating trading opportunities.

Top KOL Insights

Phyrex Ni (@Phyrex_Ni): “Lately, I’ve either been sick or on my way to get sick. Yes, going outside might mean catching something. The last illness isn’t fully recovered, and just after I got home today, I got sick again. 2026 is almost over, hope 2027 won’t be held back by health issues.”

“Today during the day, BTC’s price was relatively stable. When US stocks opened, the trend was less smooth, and Bitcoin was even less smooth. I checked some info sources and didn’t see any obvious negative news. Instead, Fed’s Mullen was still talking about how overly tight policy might impact employment. Besides that, the latest news on the Russia-Ukraine conflict: US officials said 90% of the issues between Russia and Ukraine are resolved, and they believe Russia will accept the final terms. After all this time, it seems there’s a real chance of a ceasefire. A ceasefire would definitely help US inflation. After the news, oil prices started to drop, which is a good thing.”

“Looking at Bitcoin data, the turnover rate isn’t rising yet, but by tomorrow in the Asian time zone, some investors might panic, especially during a liquidity low point. I don’t know if another drop will happen. I still have funds ready to buy BTC around $80,000. Based on VIX data, it’s time to act when the signals are right.”

“Although the price has dropped to about $85,000, there hasn’t been widespread panic among investors. It’s clear that the number of high-level loss investors reducing positions is very small. Most investors remain quite stable emotionally. This week’s focus will be on Japan’s rate hike, non-farm payrolls, and inflation data. Let’s see what happens.”

Today’s Preview

1. UK unemployment rate for three months ending October, previous value 5.0%

2. UK unemployment rate for October, previous value 4.41%

3. France Manufacturing PMI preliminary for December, previous 47.8

4. Germany Manufacturing PMI preliminary for December, previous 48.2

5. Eurozone Manufacturing PMI preliminary for December, previous 49.6

6. UK Manufacturing PMI preliminary for December, previous 50.2

7. Germany ZEW Economic Sentiment Index for December, previous 38.5

8. Eurozone seasonally adjusted trade balance for October (billion euros), previous 18.7

9. US unemployment rate for October-November, previous 4.4%

10. US non-farm employment change for October-November (thousands), previous 119

11. US retail sales MoM for October, previous 0.2%