Solana Hosts Tokenized SWEEP Fund Launched by State Street and Galaxy

State Street Investment Management and Galaxy Asset Management have partnered to launch the State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP, on the Solana blockchain.

The tokenized fund provides eligible institutional investors with an on-chain vehicle for cash management and U.S. Treasury exposure.

Eligible holdings in the fund include U.S. Treasury bills, notes and bonds, Treasury-backed repurchase agreements, Treasury Inflation-Protected Securities, Treasury floating-rate notes, U.S. dollar deposits, and stablecoins such as PYUSD and USDC.

The minimum investment is $5 million for entities and $1 million for individuals, with a total expense ratio of 0.50% of average daily net assets.