JPMorgan’s Ethereum JPM Coin shows zero supply in audit

Sentora’s analysis revealed exactly one allowlisted address within the verified Ethereum contract. The firm’s investigation also tracked the token’s separate deployment on the Base network, where supply has remained stagnant at approximately $1 million across two addresses since November 2025. No live on-chain integrations between these tokens and the bank’s existing funds or decentralized finance protocols were identified during the review.

Simultaneously, J.P. Morgan Asset Management experienced significant movement in its tokenized liquidity fund, JLTXX. Between October 21 and 22, the fund recorded $400 million in redemptions on Ethereum, while its Solana-based deployment grew to $450 million. While these figures suggest a shift in network preference, Sentora noted that the data does not confirm a direct migration of capital between the two chains. JPMorgan continues to maintain strict off-chain control over its tokenized products, requiring anti-money laundering and know-your-customer checks for all participants, with official shareholder records kept outside the blockchain environment.