Key Takeaways:
State Street launched the SSCXX money market fund on June 8, 2026, with $121M in early AUM and a 3.51% yield.The GENIUS Act, signed July 2025, created the federal reserve framework that made this product category possible for stablecoin issuers.Anchorage Digital joined as a seed investor, pairing its federally chartered crypto bank infrastructure with State Street’s cash management platform.Yie-Hsin Hung, president and CEO of State Street Investment Management, pointed to the firm’s four decades of cash management experience as the foundation for the product. “We’re excited to partner with Anchorage Digital to bring these capabilities to the digital assets space,” Hung added.
Competitive Position Risks to WatchThe restricted investment universe, limited to GENIUS-eligible short Treasuries and repos, may also compress yields relative to broader government or prime money market funds.
