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State Street Enters Stablecoin Reserve Race, Joins Blackrock and Goldman With New Genius Act Fund
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
State Street Investment Management launched a dedicated money market fund for stablecoin issuers on June 8, 2026, becoming the fourth major financial institution to target one of Wall Street’s fastest-growing reserve management niches.
Key facts
- Projections from the Citi Institute put global stablecoin issuance between $1.9 trillion and $4 trillion by 2030, a figure State Street cited in its launch announcement
- Tether holds roughly $186 to $188 billion of that figure, while USDC accounts for about $75 billion
- The stablecoin market sits at approximately $300 to $315 billion in total market capitalization as of mid-June 2026
- It yields roughly 3.51% and charges a 0.18% net expense ratio on the Capital Class (ticker: SSC)
Summary
State Street launched the SSCmoney 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. The State Street Stablecoin Reserves Money Market Fund operates under SEC Rule 2a-7 and holds only assets eligible under the GENIUS Act: short-term U.S. Treasuries maturing in 93 days or less, overnight repurchase agreements collateralized by those Treasuries, and cash.