A press release titled, "State Street Investment Management Accelerates Digital and Tokenization Innovation with Launch of State Street Stablecoin Reserves Money Market Fund," tells us, "State Street Investment Management ... announced the launch of the State Street Stablecoin Reserves Money Market Fund, a GENIUS Act-aligned registered Rule 2a-7 government money market fund designed specifically for the unique needs of stablecoin issuers. The Guiding and Establishing National Innovation for U.S. Stablecoins ('GENIUS') Act, passed into law by the United States Congress in July 2025, creates a clearer regulatory framework to utilize money market funds registered under the Investment Company Act of 1940 to back the issuance of stablecoins. The fund was designed and built to comply with the GENIUS Act. State Street Bank and Trust Company, and Anchorage Digital, home to the first federally chartered crypto bank in the United States, are initial investors in the fund." (Note: We're still accepting registrations for next week's Money Fund Symposium, which is June 24-26 in Jersey City! Attendees and Crane Data subscribers may access the conference materials via our "Money Fund Symposium 2026 Download Center." See you in New Jersey next week!)
Yie-Hsin Hung, president and CEO of State Street Investment Management, comments, "For more than 40 years, the cash management business of State Street Investment Management has delivered liquidity solutions to the world's largest and most sophisticated institutional investors. With the GENIUS Act, a clear framework has been established for how stablecoin reserves can be invested. State Street Investment Management's time-tested approach to cash management focuses on principal preservation, liquidity and income, and we're excited to partner with Anchorage Digital to bring these capabilities to the digital assets space."
The release quotes Nathan McCauley of Anchorage Digital, "Stablecoins are quickly becoming core financial infrastructure, making the quality and management of their reserves critically important. As the GENIUS Act establishes a clear regulatory framework, this fund brings together State Street Investment Management's decades of cash management expertise with Anchorage Digital's regulated stablecoin infrastructure to help advance a more resilient, institutional-grade foundation for stablecoin reserves."
The release states, "The fund launches as the stablecoin market enters a new phase of growth, with global stablecoin issuance projected to reach between $1.9 trillion and $4 trillion by 2030 as institutional adoption accelerates. This expansion is expected to drive an increase in stablecoin reserves backed by government money market fund assets, creating new opportunities for State Street's institutional liquidity management solutions to back the digital ecosystem."
It continues, "The launch builds on the recent introduction of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized liquidity solution enabling 24/7 onchain cash management via stablecoins, subject to the availability of stablecoin in the fund's portfolio, and advances State Street Investment Management's broader strategy of enabling seamless, institutional-grade participation in tokenized markets."
For more on Stablecoin Reserve funds, see these Crane Data News stories: "Federated MMR Digital Treasury Fund" (6/10/26), "BNY Files for Dreyfus On-Chain Liquidity Fund for Stablecoin Reserves" (5/22/26), "Fidelity Files for Reserves Digital Fund, 5th Stablecoin Reserve MMF" (3/23/26), "Dec. MFI: MMFs Hit $8.0T, Top 10; JPM '26 Outlook; Stablecoin Reserves" (12/5/25), "State Street Files for Stablecoin Reserves MMF; BNY's Stephanie Pierce" (11/19/25), "BNY Stablecoin Reserves Goes Live; ICI: Assets Eke Out Record $7.5T" (11/14/25),"BNY's Vince on Q3 Call: Money Market Evolution, Dreyfus, Stablecoins" (10/22/25), "BlackRock Breaks $1 Trillion in Money Funds; Offers Stablecoin Reserve" (10/17/25), "Sept. MFI: Assets Break $7.6T; Stablecoin Reserves; JPM on Offshore MFs" (9/8/25), "BNY Dreyfus to Launch Stablecoin Reserves Fund; Joins Goldman, Circle" (8/20) and "Goldman Files to Launch Stablecoin Reserves Fund; Circle Q2 Earnings" (8/13/25).
In other news, Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of June 12) includes Holdings information from 56 money funds (unchanged from two weeks ago), or $3.821 trillion (down from $4.076 trillion) of the $8.289 trillion in total money fund assets (or 46.1%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our June 10 News, "June MF Portfolio Holdings: Assets Jump; Treasuries Surge, Repo Up.")
Our latest Weekly MFPH Composition summary shows Government assets dominating the holdings list with Treasuries totaling $1.745 trillion (down from $1.886 trillion two weeks ago), or 45.7%; Repurchase Agreements (Repo) totaling $1.346 trillion (down from $1.437 trillion two weeks ago), or 35.2%, and Government Agency securities totaling $409.5 billion (down from $432.6 billion two weeks ago), or 10.7%. Commercial Paper (CP) totaled $141.2 billion (up from $138.4 billion two weeks ago), or 3.7%. Certificates of Deposit (CDs) totaled $77.2 billion (unchanged from $77.2 billion two weeks ago), or 2.0%. The Other category accounted for $65.1 billion or 1.7%, while VRDNs accounted for $36.4 billion or 1.0%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.745 trillion, Fixed Income Clearing Corp with $471.1B, the Federal Home Loan Bank with $253.3B, JP Morgan with $128.3B, Federal Farm Credit Bank with $91.5B, RBC with $89.2B, BNP Paribas with $86.8B, Citi with $74.4B, Wells Fargo with $73.4B and Bank of America with $48.7B.
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan 100% US Trs MM ($334.4B), JPMorgan US Govt MM ($332.4B), Fidelity Inv MM: Govt Port ($272.0B), State Street Inst US Govt ($225.4B), Morgan Stanley Inst Liq Govt ($221.0B), BlackRock Lq FedFund ($191.5B), BlackRock Lq Treas Tr ($186.0B), Dreyfus Govt Cash Mgmt ($168.7B), Fidelity Inv MM: MM Port ($163.1B) and Allspring Govt MM ($133.0B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary.)
