According to CoinDesk, State Street Investment Management and Galaxy Asset Management have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), providing on-chain cash management services for qualified institutional investors. The fund allows institutions to deposit stablecoins into yield-generating funds and achieve round-the-clock entry and exit through blockchain infrastructure, distinguishing it from traditional money market funds that operate only during market hours. SWEEP is initially deployed on Solana, with plans to expand to Ethereum and Stellar; Galaxy provides a tokenization system, Anchorage handles digital asset custody, and State Street manages traditional securities within the portfolio. State Street manages over $5 trillion in assets, and this move demonstrates that traditional asset management firms are accelerating the integration of cash management, money markets, and other traditional financial instruments onto the blockchain.

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