Summary
State Street launched the SSCXX fund on June 8, 2026, with a $15M minimum investment, 0.18% net expense ratio, and 3.48% 7-day SEC yield. Initial investors include State Street Bank and Anchorage Digital. The fund is a Rule 2a-7 government money market fund designed specifically for GENIUS Act compliance. BlackRock already manages much of Circle's $75B USDC Treasury portfolio. Franklin Templeton, Fidelity, and JPMorgan have each expanded tokenized cash offerings. Citi projects global stablecoin issuance reaching $1.9T to $4T by 2030. State Street also launched the SWEEP tokenized liquidity fund with Galaxy Digital.
Key Points
- SSCXX: $15M minimum investment, 0.18% expense ratio, 3.48% 7-day SEC yield
- Inception date: June 8, 2026; $121M net assets as of June 16
- Initial investors: State Street Bank and Trust Company, Anchorage Digital
- BlackRock manages Circle's USDC Treasury portfolio (~$75B)
- Citi Institute projection: $1.9T-$4T stablecoin issuance by 2030
- State Street also launched SWEEP (tokenized liquidity fund with Galaxy Digital)
- Competitive set: BlackRock, Franklin Templeton, Fidelity, JPMorgan all expanding