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J.P. Morgan's tokenized private equity fund is the bank's first step towards a broader

rollout of its fund tokenization platform.

There have been sporadic efforts by banks or asset managers to develop tokenized funds.

So definitely this is kind of one of the hottest topics on Wall Street.

Plus, data analysis firm Palantir is suing two former employees for allegedly stealing

company secrets.

And companies, including Apple and Amazon, report strong quarterly results.

It's Thursday, October 30th.

I'm Alex O'Silliv for the Wall Street Journal.

This is the PM edition of

What's News, the top headlines and business stories that move the world today. We're exclusively

reporting that J.P. Morgan Chase has tokenized a private equity fund on its blockchain platform,

an offering that is available to the wealthy clients

served by its private bank. It's the first step in the bank's effort to make investing in

alternative assets easier. Vicky Gouang covers crypto and retail investing for WSJ and is here

now with more. Okay, Vicky, what is tokenization? So tokenization is essentially the conversion of either financial assets or

real-world assets into tradable tokens on the blockchain. And in this case, JPMorgan is converting

the investors' ownership interest in this private equity fund into a token on its own blockchain called Kinexas digital assets.

Alternative investments as a whole is a pretty complex and often opaque space.

It includes private equity funds, private credit funds, real estate funds, or hedge funds.

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